Atlas Renewable Energy Wins Accolades in Latin America

Jul 1, 2021 01:57 PM ET
  • Miami-based Atlas Renewable Energy wins IJGlobal's 2020 Latin America Sponsor of the Year Award and Latin America Solar Deal of the Year Award for its Ananuca Financial Deal.
  • In 2020, the company authorized 3 major funding contracts: Ananuca worth USD 253 Million, Lar do Sol-- Casablanca worth USD 150 million and also New Juazeiro for USD 67 Million.

Miami-based Atlas Renewable Energy has actually been awarded IJGlobal's 2020 Latin America Sponsor of the Year Award for the company's contributions to accelerating the area's change to clean power.

In just 2020, the business authorized three significant financing agreements: Ananuca worth USD 253 Million, Lar do Sol-- Casablanca worth USD 150 million and New Juazeiro for USD 67 Million. These cooperations enabled Atlas to increase its total ability of gotten projects to 2.2 GW, of which a big part has been enabled through company PPAs with private offtakers.

The firm has likewise partnered with banks such as IDB Invest to develop among its most ambitious social efforts: the women labor force program "We are all part of the very same energy" in which Atlas is devoted to train near 1,000 women in the neighborhoods bordering its projects incomplete as well as is aiming to get to a target of over 15% of women depiction within the complete labor force during the implementation of these projects.

"Essentially, we are aiming to show renewables' capability to be both a lasting as well as competitively valued resource of power. And we do so by working together with wonderful companions to locate cutting-edge options while at the same time attempting to attend to social concerns and promote high sustainability requirements," claimed Carlos Barrera, Chief Executive Officer of Atlas Renewable Energy.

"I wish to give thanks to IJGlobal for these awards along with the financial institutions DNB Markets and IDB Invest, among others, for coming to be an ally in speeding up the energy change in the area," he included.

The firm was also granted Latin America Solar Deal of the Year Award for its Ananuca Financial Deal, which re-financed the Javiera Solar Plant (69.5 MW) and also funded the building of the Sol del Desierto Solar Project (230MW) in Chile.

The Ananuca Solar Deal in Chile was the biggest solar bond in Latin America at the time of finalizing. With an unique framework, the deal combined the funding of the building and construction of a new solar project (Sol del Desierto) and the refinancing of an existing operating plant (Javiera). Both solar PV generation assets have actually been incorporated under a solitary funding portfolio providing financiers with essential architectural benefits as well as synergies of cross-collateralized properties as well as cross-guaranteed capital.

The 253-million-dollar funding was safeguarded through DNB Markets, which functioned as Sole Lead Placement Agent for the notes, under a United States Private Placement (USPP) in Green Bond format. The bond was issued under Atlas Renewable Energy's Green Finance Framework, which is straightened with 2018 versions of the ICMA Green Bond Principles and the LMA Green Financing Principles. This framework acknowledges and also vouches for the business's commitment to establishing projects that protect and also preserve the setting while adhering to the highest possible requirements of ecological engagement.

"We are recognized to have been awarded solar deal of the year for our Ananuca Deal. This pioneering deal framework gave new avenues for solar funding in the area and furthers Atlas' cutting-edge approach to project financing working together with DNB Markets. I 'd also such as to identify the support and devotion that DNB Markets has actually shown to the renewable energy sector beforehand Latin America's energy improvement," stated Michael Shea, Head of Structured Finance at Atlas Renewable Energy.

Atlas Renewable Energy is a renewable energy generation business that develops, builds and also operates renewable energy projects with long-term agreements throughout the Americas. The existing company portfolio is 2.2 GW of gotten projects in advancement, building and construction or functional phases, and intends to broaden by an added 4GW in the next years.

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