Atlas Renewable Energy has secured funding for its first solar project in Colombia—the 160-MWac/201-MWp Shangri-La solar photovoltaic plant in the Tolima region.
Shangri-La Solar Plant Secures Financing
Atlas Renewable Energy, a company owned by Global Infrastructure Partners (GIP), has secured long-term financing from IDB Invest and Bancolombia for its 201 MWp Shangri-La photovoltaic plant in Ibagué, Tolima. This funding will support the project’s development, construction, and operation.
The total financing package includes a senior secured loan of 473.77 billion Colombian pesos (approximately $113 million). In a key partnership, PVH is set to provide the solar trackers for this Atlas solar project.
According to IDB Invest, this milestone builds on a broader collaboration between Atlas and Colombian power company Isagen. The partnership aims to develop 1,000 MW of solar projects in the coming years, with the Shangri-La project serving as a cornerstone of the initiative.
Shangri-La Solar Plant to Power 214,000 Homes
Slated to become operational by mid-2025, the solar plant is expected to generate approximately 403.7 GWh annually—enough clean energy to power around 214,000 homes.
This represents the fourth and largest solar plant financed in Colombia by IDB Invest, a member of the Inter-American Development Bank Group. The project also marks a significant milestone as Atlas Renewable Energy’s first solar venture in the country.
“This agreement highlights our relationship with IDB Invest, with whom we financed six solar projects in Latin America, and marks our first collaboration with Bancolombia,” said Rubén Borja, Atlas Country Manager in Colombia.
PVH to Supply Solar Trackers for Shangri-La Project
Atlas Renewable Energy has partnered with PVH to supply its Monoline 2P solar trackers for the Shangri-La project. These trackers will be equipped with the advanced ProInsights SCADA system.
“This control system facilitates operation and maintenance work on the ground through continuous monitoring of the operation of the trackers in the solar plant,” PVH explained.
The Shangri-La project brings PVH’s total supply of solar trackers in Latin America to over 3 GW. This achievement coincides with the recent opening of the company’s Houston factory, which has an annual production capacity of 12 GW to supply projects across the Americas.
