Atlas Renewable Energy Announces Fourth Plant In Brazil Reaches Commercial Operation, Generating 275 GWH Per Year
With the addition of Sertão Solar Barreiras Complex, Atlas Renewable Energy now operates 421 MWp photovoltaic projects in the country.
SÃO PAULO, Dec. 17, 2019 /PRNewswire/ -- Atlas Renewable Energy, a leader in clean energy across Latin America, announces that its fourth project in Brazil, Sertão Solar Barreiras Complex, is fully operational. The plant has an installed capacity of 117MWp (megawatts peak) and will generate an estimated 275 GWh yearly. Located in Barreiras, state of Bahia, the solar complex now adds to the company's portfolio, totaling 421 MWp of photovoltaic projects in the country. The total amount invested in the plant was approximately R $350M, equivalent to over USD 83M.
Sertão Solar Barreiras Complex was contracted through a 20-year energy purchase agreement (PPA) sponsored by the Brazilian government's auction in 2017 (New Energy Auction - 25º LEN). Now the plant's 349.253 modules are projected to generate 275 GWh annually, which could benefit 145.000 families per year and reduce the emissions of more than 34,000 tons of carbon dioxide, according to the company's calculations.
In just two years, Atlas Renewable Energy has established itself as the second largest player in the Brazilian solar energy industry, having successfully positioned itself among key stakeholders as a leading renewable energy generation company in Brazil with investments totaling R $1.7B to date, of which R $800M were financed by BNB.
Atlas Renewable Energy seeks to make contributions beyond the provision of clean energy to improve and elevate the educational standards in areas where it operates, through the development of educational programs in schools and communities. During the work at Sertão Solar Barreiras Complex, Atlas Renewable Energy partnered with the Secretary of Environment and Agriculture from Barreiras to create the Environment Week and Cerrado Week, a celebration of Brazil's vast tropical savanna ecoregion characterized by enormous ranges of plant and animal biodiversity. This included the creation of three gardens in the area's municipal schools to educate students in garden care and planting, as well as heritage education lectures for all 400 students.
Atlas Renewable Energy also believes in the importance of investing in training and developing programs that empower local communities to work during the construction of our projects as an opportunity to generate new sources of income. During the construction of Sertão Solar Barreiras plant, Atlas provided the first female workforce training program, social communication trainings and courses for locals to prepare food products from their unique ecosystem. These trainings represented more than 29,000 hours of training in Brazil's NR 12 Certification of industrial machinery and electrical trainings, emphasizing on the transfer of technology and local sources of income.
Carlos Barrera, CEO at Atlas Renewable Energy, stated that "Atlas Renewable Energy delivers large-scale projects that contribute to Latin America's continuously-growing renewable energy market and reliably deliver clean energy to consumers. We always do so with careful attention to all stakeholders, to ensure a positive effect to the broadest ecosystem". He recognized Banco de Nordeste de Brasil for their financial support and broader role in accelerating investment in renewable energy projects throughout the country's northeast region, as well as Bradesco, Banco ABC Brasil and BTG Pactual for supporting the Sertao project and other similar clean energy initiatives. "We aim to continue growing and expanding our Brazilian operations with new investments, as we continue to bring a standard of excellence to every project we develop."
Luis Pita, Atlas Renewable Energy's General Manager for Brazil, emphasized that, "Atlas Renewable Energy has been well positioned in the Brazilian market as a major player in the renewable energy industry. Our presence is continuously growing and becoming more consolidated. Our company now successfully operates four plants, representing 421 MWp in Brazil, namely São Pedro, Juazeiro, Sol do Futuro, and Sertão Solar, with several others expected over the next years." He continued, "The role of solar PV in Brazil's Northeast and the country's electricity matrix is rising continuously with strong potential in the free energy market. The competitiveness of renewable energy in Brazil, combined with the carbon emissions reduction it offers, is a compelling proposition for most free market consumers".
About Atlas Renewable Energy
Atlas Renewable Energy is a renewable energy generation company that develops, builds, and operates renewable energy projects with long-term energy contracts across Latin America. The current company portfolio is 1.5GW of contracted projects in development, construction, or operational stages, and aim is to grow an additional 1.5GW in the next years.
Launched in early 2017, Atlas Renewable Energy includes an experienced team with the longest track record in the solar energy industry in Latin America. The company is recognized by its high standards in development, construction, and operation of large-scale projects.
Atlas Renewable Energy is part of the Energy Fund IV, founded by Actis, a leading private equity investor in the energy sector of emerging markets. Actis has allocated more than USD $600M of equity in Atlas Renewable Energy to invest in long-term renewable energy contracted projects.
Atlas Renewable Energy's growth is focused on the main emerging markets and economies of Latin America, using its proven development, commercialization, and structuring know-how to bring clean energy to the region. By actively engaging with the community and stakeholders at the center of its project strategy, the company works every day to provide Latin America with a cleaner future.
To know more about Atlas Renewable Energy, visit: http://www.atlasrenewableenergy.com/
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