Atlas Renewable Energy Closes Largest Financing Deal in Company History for Hybrid Solar-Storage Project

Working with top international and national banks, the company secured $510M for the construction of the Estepa Project in Chile.

Santiago –  April 21, 2025 – Atlas Renewable Energy, an international leader in renewable energy solutions, secured the largest financing in its history for Estepa, a hybrid solar photovoltaic and battery energy storage system (BESS) project in Chile’s Antofagasta region. Atlas worked with top-tier financial institutions, including BNP Paribas, Crédit Agricole Corporate & Investment Bank, DNB Bank, Scotiabank Chile, Sumitomo Mitsui Banking Corporation, and the Bank of Nova Scotia, to secure the US$510 million financing agreement, which was structured under highly competitive terms. 

This project is supported by two long-term power purchase agreements signed with Codelco and Colbun, two key players in Chile’s mining and energy sector. These agreements strengthen Atlas’ position as a strategic partner for the country’s energy transition and consolidate the company’s position as a supplier of energy solutions that combine renewable generation with advanced storage. It also marks Atlas as a company capable of providing cutting-edge technological solutions that can adapt to the changes the region’s electricity markets are experiencing as part of the transition to clean energy.

“I am very proud of this significant financing that marks a key milestone for another iconic project for Atlas, and very grateful to our distinguished financing partners for supporting us again.” stated Carlos Barrera, CEO of Atlas Renewable Energy. “As the industry focus on profitability becomes more pronounced, we at Atlas are firmly focused on this path while continuing to help our clients and partners source more competitive clean energy solutions. All this while remaining dedicated to accelerating a clean energy transition.”

The Estepa project will be a hybrid system composed of a photovoltaic solar plant with an installed capacity of 215 MW and an estimated generation of 600 GWh per year. It will also feature two battery storage systems with a 418 MW capacity, equivalent to four hours of energy generation. This will enable the project to supply clean energy continuously, even during periods where solar generation is not possible. The project is expected to enter commercial operation by the end of 2026.

This financing deal comes just five months after Atlas signed a different agreement to supply 450 GWh hours annually from the Copiapo hybrid project to a strategic player in the mining industry, Grupo CAP, through its subsidiaries Compañía Minera del Pacífico and Aguas CAP. 

ABOUT ATLAS RENEWABLE ENERGY

Atlas Renewable Energy is an international renewable energy generation company with an asset base of more than 8.4 GW, of which 2.5 GW are in advanced development stages ready to be contracted, and about 3.6 GW are operational. Atlas has specialized in developing, financing, constructing, and operating renewable energy projects since early 2017. The company has an experienced team with a deep global power market and renewable energy expertise, and it has the longest track record in the renewable energy industry in Latin America. 

The company’s strategy is focused on helping large companies make the energy transition to clean energy. Atlas Renewable Energy is widely recognized for its high standards in developing, constructing, and operating large-scale projects and its deep and long-standing track record in ESG and sustainable development.  

For more details, please visit: www.AtlasRenewableEnergy.com