Recently, Atlas Renewable Energy obtained a $447.8 million loan from the Brazilian Development Bank to establish the Vista Alegre Solar Plant. The loan is said to be the biggest that BNDES has ever provided for such an endeavor. Atlas Renewable Energy is an independent power producer based in Latin America.
Projected to have an installed capacity of 902MWp, the Vista Alegre Solar Plant is expected to have a production of 200 MW per year. The solar power plant is expected to have an operational lifespan of at least 20 years.
According to the estimates, the project will be able to prevent 2.4 million tons of CO2 emissions. This is the same as powering more than 3 million people.
The Vista Alegre Solar Power plant entered a 21 year strategic power agreement with Albras. According to the agreement, this is the biggest solar project in Brazil that has ever been developed in one phase. The plant’s commitment is cemented by the agreement to supply power that would be used for the production of aluminum.
Atlas Renewable Energy and BNDES’ second collaboration is marked by this massive funding initiative. This comes after their first collaboration on the funding of the Boa Sorte Solar Project.
Atlas Renewable Energy’s CEO, Carlos Barrera, was proud of the project’s establishment, commending BNDES for their support. He emphasized that it will play a role in advancing the country’s energy transition. According to him, the Vista Alegre project is an evidence of the impactful steps that have been made by collaborating with domestic financing partners.
How the Vista Alegre Solar Plant‘s establishment will impact people
The solar project, as per the CEO, will create more than 2,500 jobs over its construction phase. This will significantly contribute to the region’s local economy.
Furthermore, the project is committed to incorporate industry’s Environmental, Social, and Governance (ESG) practices. Atlas Renewable Energy is also planning to introduce social programs seeking to support, advocate as well as empower the local people.
The Vista Alegre Solar Plant is evidence to Atlas Renewable Energy’s commitment to reshape the energy landscape.