Brazil's Unipar, Atlas Renewables form JV for 239-MWp solar project

Brazilian solar park

August 11 (Renewables Now) - Brazilian chemical company Unipar Carbocloro SA (BVMF:UNIP6) said on Tuesday it had finalised the process of forming a joint venture (JV) with an Atlas Renewable Energy subsidiary to secure a part ownership in a 239-MWp solar park project in the state of Minas Gerais.

The transaction was initiated in July 2021, when the parties agreed that Unipar was to acquire part of the shares issued by special purpose entities (SPEs) held by Atlas Renewables to jointly develop the project.

On top of that, Unipar signed a power purchase agreement (PPA) with the SPEs to procure 49 MW average from the jointly-owned solar park for its own operations.

The solar park is currently under construction in the municipality of Pirapora. Unipar expects to start receiving the supply under the PPA in 2024, the company said.

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