Atlas Renewable secures $275m for 787MW solar project

• Atlas Renewable Energy secures BRL-1.5-billion financing for 787-MWp solar project in Brazil, powering over 870,000 homes and reducing carbon emissions.

Atlas Renewable Energy has secured a BRL-1.5-billion financing to fund a 787-MWp solar project in Brazil. The financing, coordinated by Itau BBA, includes incentivised debentures and commercial notes. The project, named Luiz Carlos, will be located in Paracatu, Minas Gerais state, and is expected to start commercial operations in 2025, providing power to over 870,000 Brazilian homes.

Votorantim Cimentos, a Brazilian building materials and sustainable solutions company, will be one of the off-takers of the PV complex's output under a 15-year power purchase agreement. This project marks a significant step towards increasing renewable energy capacity in Brazil and reducing carbon emissions in the country.

What financing was secured for Atlas Renewable Energy's 787-MWp solar project in Brazil?

• The BRL-1.5-billion financing for Atlas Renewable Energy's 787-MWp solar project in Brazil was coordinated by Itau BBA.
• The financing includes incentivised debentures and commercial notes to fund the project named Luiz Carlos in Paracatu, Minas Gerais state.
  
• The project is expected to start commercial operations in 2025 and will provide power to over 870,000 Brazilian homes.
  
• Votorantim Cimentos, a Brazilian building materials and sustainable solutions company, will be one of the off-takers of the PV complex's output under a 15-year power purchase agreement.
• This project is a significant step towards increasing renewable energy capacity in Brazil and reducing carbon emissions in the country.