US-based Atlas Renewable Energy has secured a milestone 21-year power purchase agreement (PPA) with Albras, a leading Brazilian aluminium producer. This PPA represents the longest-term agreement ever signed in Latin America in the area of corporate renewable energy. Under this contract, Atlas will supply solar power from the 902MWp Vista Alegre photovoltaic project in Brazil’s Minas Gerais state.
The Vista Alegre project is anticipated to commence operations in 2025, generating 2TWh of clean electricity annually. This energy production will be sufficient to power a city the size of Brasilia, with a population of nearly three million. Additionally, the project will offset 154,000 tonnes of carbon dioxide emissions each year, equivalent to taking 61,800 cars off the road.
Atlas Renewable Energy’s CEO, Carlos Barrera, remarked that the PPA signifies a crucial step for the company in its efforts to partner with corporate customers to support their transition to clean energy. He added that the deal highlights Atlas’s ability to provide tailored energy solutions to its clients, while ensuring reliability and adherence to best-in-class ESG programmes.
Earlier in 2023, Atlas secured a $210m loan from Banco Nacional de Desenvolvimento Econômico e Social for its Boa Sorte development, another solar project in Minas Gerais with a capacity of 438MW. Once operational, the Boa Sorte project will generate 815GWh of clean energy per year, sufficient to power over 394,000 homes and avoid more than 61,000 tonnes of carbon emissions.