Atlas Renewable Energy secures loan for 359MWp solar plant in Brazil
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Atlas’s 67.1MWp São Pedro solar project in the Brazilian state of Bahia. Image: Atlas Renewable Energy.
Latin America-focused solar developer Atlas Renewable Energy has obtained a US$150 million loan to finance the construction of its 359MWp Lar do Sol – Casablanca PV project in Brazil.
The funding was secured from IDB Invest, which is the private sector arm of the Inter-American Development Bank, and Norwegian financial services group DNB Bank.
Set to be developed in the state of Minas Gerais, Lar do Sol – Casablanca will feature 880,000 bifacial modules, generate 805GWh per year and supply power to mining company Anglo American through a 15-year power purchase agreement announced last year.