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Press release

Atlas Renewable Energy ranks first in the development of clean energy for corporate PPAs in Latin America, and is among the ten largest in the world

22 February 2021
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Actis investee company Atlas Renewable Energy has been ranked first, in the Bloomberg NEF 2021 Corporate Energy Market Perspectives, as a clean energy developer in relation to sales of renewable energy to corporate buyers in Latin America during 2020, and ranked 6th globally, with more than half a gigawatt hired by private companies in the region.

This success includes a historic milestone in long-term energy purchase contracts (PPA) that Atlas Renewable Energy has made with Anglo-American, a multinational of natural resources that will provide clean energy for its operations in Brazil from the Casablanca project, a 359MWp solar plant from Atlas Renewable Energy in Minas Gerais. Casablanca is the largest bilateral solar PPA signed in Latin America to date.

Similarly, Atlas Renewable Energy entered into yet another innovative project with the Brazilian subsidiary of one of the largest petrochemical multinationals, Dow Chemical. The energy for this project will come from Atlas Renewable Energy’s Jacaranda solar plant and will provide clean energy for Dow’s operations in the state of Bahia, under a new business structure that addresses solar flickering and provides a 24-hour power supply, exchanging excess solar energy during the day with other clean energy sources that they can produce at night, thus providing a continuous energy charge.

Both projects are part of the strategy of these companies to achieve ambitious sustainability goals, aiming to reduce a considerable amount of their CO2 emissions and clean their energy matrix, a trend that is being quickly adopted and implemented in Latin America by large energy consumers in natural and chemical resource sectors. And, what is also very important, both projects are uniquely characterized by equally pioneering and ambitious social and community engagement programs that promote diversity and inclusion.

"We are extremely proud of the growth that Atlas Renewable Energy has been able to sustain consistently in recent years, repeatedly offering tailor-made energy solutions to our customers. Going forward, we find ourselves continually innovating in this area to reduce the carbon footprint of companies and institutions, while reducing your energy bill, "said Carlos Barrera, CEO of Atlas Renewable Energy. "The private sector is increasingly aware of the need to operate sustainably. As a result, purchasing clean energy has become essential for large energy consumers, and Atlas can help them find creative and smarter solutions for accelerate the adoption of cleaner energy sources ".

According to the Bloomberg NEF report, which tracks corporate clean energy trends, Corporate PPA activity in Latin America in 2020 totaled 1.5 GW, of which 1,047 MW were acquired in Brazil, the largest economy in the region and the largest clean energy market. PPA volumes in Brazil almost doubled as of 2019 and solar energy contracts were responsible for almost 80% of this growth, driving a strong trend towards solar energy at the regional level.

With this important achievement, Atlas Renewable Energy looks to the future to continue providing clean energy to large energy consumers in the Americas, accelerating the region’s transition towards clean energy, while promoting best practices and raising industry standards.

About Atlas Renewable Energy

Atlas Renewable Energy is a renewable energy generation company that develops, builds and operates renewable energy projects under long-term contracts in the Americas. The company’s current portfolio is 2.2 GW of projects contracted in the development, construction or operation phase, and intends to expand by adding another 4 GW in the coming years.

Launched in early 2017, Atlas Renewable Energy has an experienced team with the longest track record in the Latin American solar industry. The company is recognized for its high standards in the development, construction and operation of large-scale projects.

Atlas Renewable Energy is part of Energy Fund IV, founded by Actis, one of the main private equity investors in the energy sector. Atlas Renewable Energy’s growth is focused on the main markets and emerging economies, using its proven development, commercialization and structuring know-how to accelerate the transformation towards clean energy. By actively engaging with the community and stakeholders at the center of its project strategy, the company works every day to provide a cleaner future.

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