Atlas Renewable Energy successfully closed a USD 475 million financing deal for the Copiapó Solar project, a hybrid solar photovoltaic system and battery energy storage system (BESS) located in Chile's Atacama region. The international leader in renewable energy and battery storage solutions announced the completion of the financing on October 20, 2025.

The project will supply 450 GWh per year of clean energy to CAP Group, Chile's main mining and steel conglomerate, through 15-year power purchase agreements with its subsidiaries Compañía Minera del Pacífico (CMP) and Aguas CAP. These agreements will power CAP Group's operations in the Coquimbo and Atacama regions entirely with clean energy.

Financial Partnership and Structure

Atlas worked with prestigious national and international financial institutions to secure the financing under highly competitive terms. The participating banks included BBVA, Banco de Crédito e Inversiones (BCI), Crédit Agricole Corporate and Investment Bank (CACIB), Natixis Corporate and Investment Banking (Natixis CIB), SMBC, and Société Générale. David González, Managing Director and Head of Latin America Project and Structured Finance Group at SMBC, stated:

“At SMBC, we are proud to have worked with Atlas Renewable Energy throughout this important process. This successful closing reflects our long-term commitment to Latin America's energy transition and to the development of sustainable infrastructure that drives growth, competitiveness, and environmental benefits for our region.” Mathieu Rousson, CACIB's Head of Latin America Energy and Infrastructure Group, added:

“We are honored that Atlas has once again entrusted CACIB to act as its global coordinator in this important PV+BESS project that will supply clean energy to the mining sector in Chile.”

Project Specifications and Innovation

Copiapó Solar will be a hybrid system consisting of a photovoltaic solar plant with an installed capacity of 357 MWp and a 320 MW BESS, providing 4 hours of energy generation. The project is expected to generate around 750 GWh per year, representing a milestone in Chile's energy transition. Atlas structured the financing package to maximize the project's flexibility and scalability, including mechanisms that will allow it to contract additional capacity in the future.

The company will strategically use Acierta, its short-term supply business unit for independent customers, to market part of the energy generated and reinforce Atlas' commercial diversification. Copiapó is set to become a replicable model for energy-intensive industries thanks to its solar plus storage integration, allowing it to deliver clean, reliable energy 24/7.

Atlas' innovative approach, along with Chile's attractiveness as a renewables investment hub, has secured international confidence, demonstrated by the participation of French, Japanese, Spanish, and Chilean banks in the financing.

Record Year Performance

Alfredo Solar, Regional Manager of Atlas Renewable Energy for Chile and the Southern Cone, commented: “The Copiapó financing marks a new milestone in a record year for Atlas in Chile. With this transaction, we have closed over USD 1.2 billion in project financing in the last 13 months, showcasing our ability to develop complex and highly bankable projects. Copiapó Solar will not only supply the Chilean mining industry with reliable renewable energy, but also become a benchmark for the future of the country's energy industry, consolidating Atlas as a strategic ally to large industries.”

The Copiapó Solar financing represents the latest achievement in a year of significant milestones for Atlas. The company secured the largest financing in its history, USD 510 million, for the Estepa hybrid project and signed a power purchase agreement with Colbún for an innovative BESS capable of supplying up to 335 GWh per year. Atlas also inaugurated BESS del Desierto, the first large-scale stand-alone BESS system in Chile and the region, with installed capacity of 200 MW and a storage capacity of 800 MWh.

Industry Recognition

In recognition of these achievements, LatinFinance honored Atlas with three prestigious awards: Project Sponsor of the Year, Energy Storage Financing of the Year for its USD 510 million financing of the Estepa I & II project in Chile, and Renewable Energy Financing of the Year (Power) for its BRL 1.5 billion financing of the Luiz Carlos Solar Complex in Brazil. Atlas Renewable Energy is an international 100% renewable energy generation company that develops, builds, finances, and operates clean energy projects in Latin America.

The company has a portfolio of more than 8.4 GW in assets in various stages of development, construction, and operation. In Chile, Atlas has 1.5 GW of contracted projects and currently operates three large-scale solar plants: Javiera in Atacama, Quilapilún in the Metropolitan Region, and Sol del Desierto in Antofagasta. The company also operates the Bess del Desierto storage plant.

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