Project will be installed in the Antofagasta Region
Chile, August 14, 2019- Certainly, 2019 will be a year that Chile will remember. In addition to signing up as host of the Conference of the Parties (COP 25), the most important environmental summit of the year; it has also announced an exit plan for at least 8 coal-fired power plants from the national grid as part of the “Zero Carbon Energy” plan. This will be a key element to achieve carbon-neutrality in Chile by 2050.
It is in this context, when renewable energies take even more prominence, that Atlas Renewable Energy signed a long-term contract for the sale of solar energy with Engie Energía Chile, adding a new plant to take part of the country’s clean energy transition.
The PPA will supply 550 GWh/year with solar energy during a 15-year tenor. This contract is subject to financial closure and the construction of a new solar plant of at least 230 MW called Sol del Desierto, which will be in the municipality of María Elena, Antofagasta region, on concession land of the Ministry of National Assets. This plant will be one of the largest solar plants in Chile.
Alfredo Solar, General Manager of Atlas Renewable Energy Chile stated after signing the contract that “we are a young company that has grown very fast, becoming an undisputed leader of the solar market in Latin America. We have an enormous capacity to make projects viable and produce renewable energy efficiently, aligned with what is required to combat climate change. We are very proud to provide ENGIE with clean energy and therefore collaborate with Chile’s decarbonization plan.”
Atlas Renewable Energy forms part of the Private Equity Investor ACTIS, based in London, which has spent more than 20 years investing in emerging markets, with more than 18 GW of installed capacity. Atlas Renewable Energy develops, finances, builds and operates renewable energy assets in Latin America, adding 800 solar MW operating in Uruguay, Chile, Brazil and Mexico. Atlas’ contracted Pipeline reaches more than 1400 MW in the region.
Atlas always seeks to be at the forefront. The company took on the challenge of developing the first large-scale photovoltaic plant in Chile’s Metropolitan Region, and in 2017 inaugurated Quilapilún (110 MW), located in the commune of Colina, achieving a great milestone for the country after opening new solar installation alternatives. This time, the adventure will continue in the Maria Elena commune where, in January 2022, “Sol del Desierto” will start operations.
About Atlas Renewable Energy
Atlas Renewable Energy is a renewable energy generation company that develops, builds, and operates renewable energy projects with long-term energy contracts across Latin America. The current company portfolio is 1.2GW of contracted projects in development, construction, or operational stages, and aims to grow an additional 1.5GW in the next years.
Launched in early 2017, Atlas Renewable Energy includes an experienced team with the longest track record in the solar energy industry in Latin America. The company is recognized by its high standards in development, construction, and operation of large-scale projects.
Atlas Renewable Energy is part of the Energy Fund IV, founded by Actis, a leading private equity investor in the energy sector of emerging markets. Actis has allocated more than USD $600M of equity in Atlas Renewable Energy to invest in long-term renewable energy contracted projects.
Atlas Renewable Energy’s growth is focused on the main emerging markets and economies of Latin America, using its proven development, commercialization, and structuring know-how to bring clean energy to the region. By actively engaging with the community and stakeholders at the center of its project strategy, the company works every day to provide the world with a cleaner future.
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