Atlas, Hydro Rein to develop 438-MW solar park in Brazil to offer Albras
- Albras, the largest manufacturer of key aluminum in Brazil, will be buying electrical energy from a new 438-MW solar power plant to provide its center in the state of Para, it was revealed on Monday.
Actis-backed Atlas Renewable Energy as well as Hydro Rein are setting up a joint venture to construct the USD-320-million (EUR 297m) Boa Sorte solar park in Paracatu, Minas Gerais. The plant will contain over 800,000 bifacial modules.
Albras, which is owned by Norway's Hydro and also Nippon Amazon Aluminium Co Ltd (NAAC), will certainly be acquiring 815 GWh of electricity from Boa Sorte as part of a US-dollar-denominated power acquisition contract (PPA) that will certainly run from 2025 till 2044. The contracted volume will be enough to cover 12% of Albras' annual power requirements.
The solar project is waiting for clearance from the competition authority (CADE) and is expected to go into the construction phase in the final quarter of the year. Completion is set up for the fourth quarter of 2023.