March 19 (Renewables Now) - Atlas Renewable Energy said on Monday it has closed the long-term financing for more than 300 MWp of solar projects in Brazil.
The Latin America-focused company got USD 152 million (EUR 134.2m) from local lenders Banco do Nordeste (BNB), BTG Pactual, Banco ABC Brasil and Banco Bradesco SA to fund the construction of the three projects.
Located in the states of Bahia and Ceara, these solar power plant are expected to produce 672.8 GWh per year, enough to meet the needs of about 470,000 families and offset 108,000 tonnes of carbon dioxide (CO2) emissions annually, according to the announcement.
The 67.1-MWp Sao Pedro plant is already operational, while the Juazeiro and Sol do Futuro facilities are estimated to be fully operational in the coming months. Each one has an individual 20-year power purchase agreement (PPA) signed with the Power Trading Chamber (CCEE).
Atlas noted that it plans to further expand its investment portfolio by 1.5 GW throughout Latin America over the next three years.
(USD 1 = EUR 0.88)