Atlas Renewable Energy secures loan to build solar facility in Brazil


Atlas Renewable Energy has secured around $76m loan from Brazil's Northeastern Bank's Northeastern Constitutional Financing Fund for the construction of the Lar do Sol – Casablanca II solar plant.

The solar facility will be located in Pirapora of Minas Gerais state in Brazil.

Once constructed, this facility will help power Unipar to generate chlorine to treat water for more than 60 million people.

The main investor and operator will be Atlas Renewable Energy, while Unipar will serve as the co-investor.

Atlas Renewable Energy in Brazil general manager Luis Pita "Projects like these are great examples of long-term relationships between a renewable energy generator, a financer and a client.

"We are very proud that Unipar and BNB recognize Atlas' capabilities and track-record in this industry to select us as their partner to build and operate large scale renewable energy projects and implement social and environmental programs for the benefit of the communities that will surround this project."

Banco do Nordeste de Brasil superintendent Diego Rocha Batista said: "The financing for renewable energy projects stands out among the support policies of Banco do Nordeste do Brasil SA.

“The Institution is the largest regional development bank in Latin America and stands out from the rest due to its developmental mission focused on generating employment and income in its area of operation.

"In addition to having adequate conditions for the sector, the credit program is part of the bank's environmental sustainability actions.

“The completion of another financing with Atlas Renewable Energy in Brazil reinforces the commitment to the sector and recognizes the entrepreneurial group as an excellent partner in the region."

The Lar do Sol – Casablanca II Solar Plant will occupy about 700ha.

Once built, the facility will have an installed capacity of 239MWp with 460,000 solar panels.

The facility’s annual energy generation will be the equivalent of supplying energy to about 261,662 households.

Furthermore, the facility will cut down around 40,500 metric tonnes of CO2 emissions per year, which is equivalent to removing 16,200 vehicles from the streets of Sao Paulo.

Besides powering Unipar's production of chlorine and chlorides, the facility is set to hire around 1,200 local employees during the peak construction activity.


Image: An Atlas solar power plant in Latin America. Credit: Atlas Renewable Energy.

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