Atlas Renewable Energy, an international developer and independent power producer in Latin America, has secured a $447.8 million loan from the Brazilian Development Bank (BNDES) to build the Vista Alegre Solar Plant.
The solar plant, with an installed capacity of 902 MWp, equivalent to 768 MWac, will produce an average of 200 MW or 2 TWh annually. It is also expected to prevent 2.4 million tons of carbon dioxide during its 20-year operation, equivalent to producing enough power to supply over 3 million people.
Through a Power Purchase Agreement, the solar project will supply electricity to Albras for 21 years and will be built in a single phase in Brazil.
It is the second collaboration between the BNDES and Atlas, followed by the Boa Sorte Solar Power Plant (438 MWp) in partnership with Albras, which will also supply clean energy for aluminum production.
The Vista Alegre solar plant construction started in 2023 and is expected to begin supplying clean energy to Albras by 2025.
The project will not only create more than 2,500 jobs during its construction phase but also continue to promote good ESG practices through strong project execution for long-term benefits to the surrounding communities during the construction and operation phases.
Atlas plans to implement its social program, “We are all part of the same energy,” to promote diversity and inclusion in the construction of its renewable energy projects by upskilling local women to increase their participation to about 15%.
The company will also offer its Ed-Mundo program to train young students in programming, IT, robotics, and entrepreneurship in underprivileged communities.