Atlas Renewable Energy has announced it has secured a financing package worth around BRL 1 billion (about US$179 million) from Brazil’s National Bank for Economic and Social Development (BNDES), to construct a major solar facility in Minas Gerais.
The Draco Solar Complex will feature 11 photovoltaic power plants with a combined installed capacity of 505 MWac (579 MWdc), capable of powering around 569,000 homes.
‘Accelerating the energy transition’
“We are very pleased to see Atlas work with BNDES again, this time financing our Draco Solar Complex,” commented Carlos Barrera, CEO of Atlas Renewable Energy. “Together, we have financed the implementation of nearly 2 GW of installed solar capacity across Brazil, not only accelerating the country’s energy transition, but also strengthening local supply chains, generating skilled jobs, and delivering reliable, cost-effective power to key industries, such as data centres.”
Operations at the facility are set to commence next year, with the construction phase expected to generate around 2,100 direct jobs.
The project also involves the construction of a 500-kilovolt substation and a 15km single-circuit transmission line, which will connect the facility to Brazil’s National Interconnected System (SIN).
In a statement, Atlas said that it and BNDES share a ‘history of pioneering financial solutions’, of which the Draco Solar Complex is the latest example.
‘Significant volume’
“This project adds a significant volume of clean, renewable energy to our electricity mix and supports the government’s decarbonisation policy,” added BNDES President Aloizio Mercadante. “With Brazil’s solar capacity now at 39 GW, BNDES remains committed to the green agenda across energy production, process decarbonisation, and forest restoration.”
Atlas Renewable Energy currently manages a portfolio of 8.4 gigawatts across Latin America, with 3.6 gigawatts already in operation and around 2.5 gigawatts in advanced development. Read more here.
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