Securing $475M for a Hybrid Chile solar project financing Powering Chile
Atlas Renewable Energy, a key player in Latin America’s clean energy sector, has successfully secured $475 million in financing for its groundbreaking Copiapó hybrid solar and battery storage project in Chile. The significant funding package was arranged with a powerful consortium of leading financial institutions, including BBVA, BCI, Crédit Agricole CIB, Natixis CIB, SMBC, and Société Générale. The transaction was supported by DNV, which acted as a market advisor, underscoring the project’s viability and importance.
This financing is structured to fuel the development and construction of the new hybrid facility, marking another major step in Atlas’s expansion and its commitment to decarbonizing the region. The package consists of a $404 million senior secured credit facility and a $71 million letter of credit facility, providing a robust financial foundation for the project.
Copiapó Project: A Landmark Chile solar project financing for Industrial Decarbonization
Located in Chile’s sun-drenched Atacama Region, the Copiapó project is more than just a solar plant; it’s a strategic energy solution designed to provide reliable, 24/7 renewable power to the nation’s industrial core. The facility will integrate a large-scale solar array with a significant battery energy storage system.
The project is poised to generate an impressive 750 GWh of clean energy per year. This output is contracted under two long-term, 15-year power purchase agreements (PPAs) with subsidiaries of the CAP Group, a major player in Chile’s steel and mining sectors. By supplying continuous clean power, the Copiapó plant will directly help decarbonize industries that are traditionally among the country’s largest energy consumers. This initiative highlights how the sophisticated solar panel manufacturing process results in technology capable of powering even the most demanding industrial operations.
Atlas Renewable Energy’s Deepening Commitment to Sustainability Through Chile solar project financing
Atlas Renewable Energy continues to solidify its position as a leader in renewable energy development across Latin America. This latest financing is part of a record-breaking period for the company in Chile, bringing its total project financings in the country to over $1.2 billion in the last 13 months alone.
The company’s portfolio demonstrates a strong focus on innovation and grid stability. Atlas is also developing BESS del Desierto, which is set to be Chile’s first large-scale standalone battery storage project. These ventures showcase a deep understanding of not just the basics of solar panel manufacturing, but also the complex integration of storage solutions needed for a modern, resilient power grid. The project also promises a positive economic impact, creating local jobs and fostering community development initiatives.
Chile solar project financing Deal Marks a Major Milestone
This $475 million deal is a significant milestone, not just for Atlas, but for the broader renewable energy landscape in Latin America. It demonstrates strong confidence from a diverse group of international banks in both the company’s execution capabilities and the economic potential of large-scale renewable projects. Understanding the solar panel manufacturing plant cost breakdown helps put into perspective the scale of investment required for such ambitious undertakings, from securing solar panel raw materials to final commissioning.
The partnership between Atlas and the banking consortium highlights the growing appetite for financing sustainable infrastructure that directly addresses climate change. The Copiapó project is a prime example of this trend, playing a pivotal role in Chile’s national strategy to reduce greenhouse gas emissions and transition towards a cleaner energy future.
As a major step forward, the Copiapó solar project will help secure a sustainable energy supply for vital industries, driving both economic growth and environmental progress. With this new financing secured, Atlas Renewable Energy is exceptionally well-positioned to continue leading the charge in the global transition to clean energy.
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