ATLAS RENEWABLE ENERGY CONSOLIDATES ITS OPERATIONS IN COLOMBIA BY ACQUIRING ITS FIRST SOLAR PROJECT IN THE COUNTRY

The Shangri-La solar project, initially developed by Rayo Energia and Black Orchid Solar, will be Atlas Renewable Energy’s first solar project in Colombia, with an installed capacity of 201 MWp contributing to its goal of reaching 1 GW of contracted projects in the Andean country.  

BOGOTA, Feb. 22, 2024 – Atlas Renewable Energy, a leading international provider of renewable energy solutions for large consumers, has acquired its first solar project in Colombia, the Shangri-La project, located in the Department of Tolima. The project 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. Atlas recently entered the project into the reliability charge auction organized by the National Government and attained an award, contributing to the country’s overall installed capacity. 

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 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. “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.” 

“We are very pleased and proud to have successfully developed this project, together with Black Orchid Solar, knowing the importance it will have for Colombia’s energy transition. Moreover, it strengthens Rayo’s commitment to Colombia and positions us for our next stage of business development, focusing on providing energy services for Colombian industrial clients,” said Andres Salas, CEO and founder of Rayo.  

Atlas will also implement its proven sustainability strategy, consistently applied in its 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, incentivize opportunities in the community during construction, and implement social and environmental initiatives, such as Atlas’ flagship “We are part of the same energy” program, which will train community groups in technical skills and mobilize local contractors to be included in its hiring process during construction. The project also plans to launch EdMundo, a social program dedicated to training young students from the local community in STEM and entrepreneurship to empower them to play a central role in their communities. 

About Atlas Renewable Energy 

Atlas Renewable Energy is an international renewable energy generation company that has developed and built about 5 GW of renewable energy assets, of which 2.7 GW are operational. Atlas has specialized in developing, financing, constructing, and operating renewable energy projects by implementing and designing solar, wind and energy storage systems solutions since early 2017. The company has an experienced team with a deep global power market and renewable energy expertise, with the longest track record in the renewable energy industry in Ibero-America. 

The company’s strategy is focused on helping large corporates make the energy transition to 100% clean energy. Atlas Renewable Energy is widely recognized for its high standards in developing, constructing, and operating large-scale projects, as well as its deep and long-standing track record in ESG and sustainable development. 

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