Atlas Acquires Its First Wind Power Project

International renewable energy producer, Atlas Renewable Energy, has declared that it has acquired a wind project in the Brazilian state of Minas Gerais from the French energy producer and supplier Voltalia.

The statement released by Atlas Renewable said that the project, named Juramento, will have a generation capacity of 378 MW. It will be composed of 63 wind turbines.

Atlas informed that Juramento is it’s the second wind project, after the company announced the signing of a Power Purchase Agreement (PPA) with Enel Energía Chile last month for the development of the Alpaca wind portfolio (417 MW).  Atlas also said that unlike Alpaca, Juramento does not have a PPA and the project open to any off-takers seeking renewable power in Brazil.

Luis Pita, General Manager, Atlas Renewable Energy in Brazil, said, "With Juramento we continue to expand and diversify our product offering across all the regions where we operate. This project is currently available for any large energy consumer looking for a PPA to transition from conventional sources of energy to renewable."

As per Atlas, Juramento will generate 1,650 GWh per year, which is equivalent to benefiting about 800,000 Brazilian families and prevent 123,750 tons of carbon emission which could be compared to removing 49,500 cars from the streets of Sao Paulo. The structure of the transaction will be reviewed and finalized through Brazil's Administrative Council of Economic Defense (CADE) in the upcoming days.

Atlas Renewable Energy

Atlas Renewable Energy delves in developing, financing, constructing, and operating renewable energy projects throughout the Americas since 2017. It claims to have longest track record in the renewable energy industry in Latin America.

Atlas also has other renewable energy projects running in Minas Gerais of Brazil. In February, it secured a $76 million loan from Northeastern Constitutional Financing Fund of Brazil's Northeastern Bank for the construction of the Lar do Sol – Casablanca II solar plant. Subsequently, Atlas said it will be forming a joint venture with Albras to develop, build and operate a solar plant of 438 MW.

In May, it was reported that Global Infrastructure Partners (GIP) had agreed to buy Atlas to strengthen its presence in Latin America. The value of the deal is being reported at $2 billion.