Source: renewablesnow.com
May 6 (Renewables Now) - Atlas Renewable Energy said today it has secured a USD-150-million (EUR 124.3m) financing for the construction of its 359-MWp Lar do Sol – Casablanca solar project in Brazil.
The company got the loan from IDB Invest, including from two funds it administers, and Norway's DNB Bank ASA.
Once in operation, the Casablanca photovoltaic (PV) plant will supply 805 GWh per year to mining multinational Anglo American's (LON:AAL) operations in Minas Gerais state, under the largest power purchase agreement (PPA) signed with a private offtaker in Brazil and indexed to the US dollar.
Atlas calculates that the output of the solar farm will be enough to power 390,000 local homes per year and offset 50,000 tonnes of carbon dioxide (CO2) emissions annually.
Latin America-focused Atlas currently has a portfolio of 2.2 GW of contracted projects and plans to add another 4 GW in the coming years.
(USD 1.0 = EUR 0.829)
