Atlas Renewable secures $76M loan to develop solar plant in Brazil

Atlas Renewable Energy

Atlas Renewable Energy, a global renewable energy producer, announced this Friday it secured a $76 million loan to develop a solar energy asset in Brazil. The loan comes from Brazil’s Northeastern Bank’s Northeastern Constitutional Financing Fund.

Firstly, Atlas Renewable Energy is a renewable energy generation company that develops, builds, and operates renewable energy projects across the Americas. Its current portfolio includes 2.3 GW of contracted projects in development, construction, or operational stages.

Moreover, it aims to expand its portfolio to 4GW in the next years. As a result of this objective, Atlas Renewable will be the main investor and operator of the asset in Brazil. The project is called Lar do Sol – Casablanca II solar plant. It will be located in Pirapora, State of Minas Gerais, Brazil.

In addition to its immediate environmental benefits, the project will also serve a vital purpose. The self-production plant will help power Unipar to produce chlorine for the treatment of water for over 60 million people.

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Atlas Renewable aims to create a diverse, gender-equal project

Luis Pita, General Manager for Atlas Renewable Energy in Brazil said about the project. “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.”

On the other hand, the project will rest in about 700 hectares. It will be a massive plant of 239 MWp of installed capacity, coming from around 460,000 solar panels. According to the statement, the plant’s annual output would be the equivalent of supplying energy to about 261,662 households.

Also, the plant will avoid the emissions of up to 40,500 metric tons of CO2 each year. This would be the equivalent of removing 16,200 vehicles from the streets of Sao Paulo.

Finally, apart from powering Unipar’s production of chlorine and chlorides, the plant will hire about 1,200 local employees during the peak construction activity. Furthermore, it will implement Atlas’ female workforce program “We are all part of the same energy.” After this, the project intends to create a diverse, gender-equal, and decent place for the workforce.

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