Atlas Renewable Energy Acquires Its First Solar Project In Colombia

Rays Power Infra Acquires 520 MW Solar Projects In Gujarat, Assam

Renewable Energy Company, Atlas Renewable Energy has announced that it acquired its first solar project in Colombia. The Shangri-La solar project, located in the Department of Tolima, will generate approximately 403.7 GWh per year and will supply clean energy through a power purchase agreement (PPA) that Atlas has entered into with a leading Colombian company dedicated to the commercialization of this essential public service.

According to Atlas Renewable Energy, once the project comes into operation at the end of 2025, it will be consolidated as one of the largest solar plants in Colombia and the largest solar asset in operation in Tolima. Its energy generation will be equivalent to supplying more than 214 thousand Colombian families with clean and renewable energy annually and will avoid close to 162 thousand tons of CO2 per year, the company made claims in its press release. Atlas Renewable Energy has so far developed and built about 5 GW of renewable energy assets, of which 2.7 GW are operational.

“The recent acquisition of the Shangri-La solar project marks an important milestone in our strategic expansion in the Colombian energy market, contributing 201 MWp to our ambitious 1 GW target,” said Ruben Borja, Country Manager of Atlas Renewable Energy in Colombia, adding, “Our commitment to strong in-house development, coupled with a strategic focus on M&A opportunities such as this one, is critical to nurturing our project pipeline and achieving our business objectives. At the same time, we will advance the consolidation of new projects in mature stages of development, which will contribute to closing gaps in the current energy supply-demand environment and play a key role in fostering a just and sustainable energy transition.”

Further, the company talked about implementing its proven sustainability strategy, consistently applied in its solar projects throughout Latin America, to promote sustainable living and drive social and environmental programs. “By implementing the Shangri-La solar project, the company aims to promote local employment, incentivise opportunities in the community during construction, and implement social and environmental initiatives, such as Atlas’ flagship,” according to Atlas Renewable Energy company.