Atlas Renewable Energy has secured a $3 billion corporate refinancing covering its portfolio of renewable energy assets in Latin America, which the company says is the largest corporate refinancing for renewable energy in the region.
The transaction was executed with the support from Atlas’ sponsor Global Infrastructure Partners (GIP), and saw several international financial institutions participate, including Crédit Agricole, Natixis Corporate & Investment Banking, Banco Santander, BNP Paribas, MUFG Bank, Goldman Sachs and Morgan Stanley.
‘The size of the capital raised underscores the continued trust that international financial institutions place in Atlas,’ the company noted.
‘Long-term runway’
The refinancing will enable Atlas to optimise its capital structure and unlock competitive financing costs across the region, and will provide a ‘long-term runway for continued growth in clean energy infrastructure’, it added.
It primarily covers a portfolio of renewable energy assets in Chile, as well as financial support for projects in Brazil and Mexico.
Vote of confidence
“Securing a refinancing of this magnitude is a strong vote of confidence from global financial institutions for our brand and forward strategy in the region”, commented Carlos Barrera, CEO of Atlas Renewable Energy. “The commitment of our investors and banking partners reflects conviction on the quality of our portfolio and performance of our team.
“With strong governance, disciplined execution and growth, Atlas has not only become the largest IPP in the renewable energy sector in Latin America but has proven to generate sustainable value in multiple markets over the past decade. This refinancing is also a sign of the company’s financial maturity and will support its next phase of growth.”
Atlas said that the refinancing forms part of the broader evolution of its renewable energy rollout in Latin America, where it has pioneered innovative financing solutions for solar and battery storage, and adapted its approach through emerging technologies.
‘This deep-rooted innovation mindset, combined with best-in-class execution capabilities, positions Atlas not only to be able to deploy capital at scale today, but to shape how clean energy infrastructure is financed in the years ahead,’ it noted.
Founded in 2017, Atlas Renewable Energy boasts a renewable asset base of more than 10.8 gigawatts. Read more here.
