Atlas Renewable Energy, a leading renewable energy generation company with operations in Latin America and Europe secured a R$1.5 billion financing coordinated by Itaú BBA for the construction of the Luiz Carlos photovoltaic complex.
The complex, located in the city of Paracatu in the Brazilian state of Minas Gerais, will have an installed capacity of 787 MWp, with an annual generation of 1.594 GWh equivalent to supplying energy to more than 870,000 Brazilian homes and avoiding about 64,000 tons of CO2 emissions per year. This region already has other Atlas solar plants in operation, and the company has a strong commitment to social and environmental projects and an emphasis on hiring local labor.
The project already has a Power Purchase Agreement (PPA) with Votorantim Cimentos for the supply of 100 MWmid, contributing to the supply of the company’s production units located in the South, Southeast and Midwest regions of Brazil. This generation will be supplied by almost two thirds of Luiz Carlos’ installed capacity (470 MWp) which will be destined for the construction materials and sustainable solutions company. The rest of the project’s generation will be contracted by other companies seeking greater competitiveness and to achieve sustainability goals from clean energy sources.
Courtesy of Atlas Renewable Energy.