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Atlas Obtains funding From DnB, IDB For 359-MWp Solar Project In Brazil

Last Updated on 08th January 2024

Atlas Renewable Energy, one of the leading renewable energy companies in the Americas, announced today that it has received a USD 150 million loan for the construction of its 359-MWp Lar do Sol – Casablanca solar project in Brazil; from IDB Invest and Norway's largest bank DNB Bank ASA.


Once operational, the Casablanca photovoltaic (PV) plant will generate 805 GWh and will supply this energy to mining multinational Anglo American's operations in Minas Gerais state. The plant's Power Purchase Agreement (PPA) is to date the largest contract signed with a private offtaker in Brazil and indexed to the US dollar.


According to Atlas, the Lar do Sol – Casablanca's generation will be equivalent to satisfying the power needs of 390,000 local houses per year and will cut carbon dioxide (CO2) emissions by 50,000 tonnes annually.


The Casablanca solar plant's construction aligns with Anglo American's vision to use 100% renewable energy for its operations in Brazil as of 2022.  


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