Atlas Renewable Energy seeks to significantly expand its investments in Brazil by rotating some of its operating assets

Atlas reaches agreement to sell five operating solar plants to Engie Brasil Energia while significantly increasing its investments as part of its growth strategy in the country.

Sao Paulo, October 30, 2023 – As part of its focused growth strategy in Brazil, Atlas Renewable Energy, a leading renewable energy company in Latin America, reached an important milestone through a portfolio rotation initiatives by agreeing to the sale of a portfolio of operating assets with Engie Brasil Energia Complementares Participações, a company that is part of the Engie Group in Brazil. The operating portfolio includes solar power assets, namely, Juazeiro, Sao Pedro, Sol do Futuro, Sertao Solar, and Lar do Sol, with a combined installed capacity of 545 MW and located across the states of Bahia, Ceara and Minas Gerais.

With the R$ 3.5 billion transaction, the company will look to reinvest in developing new renewable projects in the country for a diversified group of customers under innovative structures, strengthening Atlas’ long-term positioning in the region. After the transaction, Atlas will still hold a portfolio of more than 1.8 GW of installed capacity in Brazil. This includes two photovoltaic parks under construction in the state of Minas Gerais, including the largest solar plant in Latin America, and two other projects already in operation. In addition, the company has a portfolio of more than 15 GW of sustainable energy, including solar and wind, in various stages of development in Brazil.

“Atlas is growing significantly in Brazil, and this transaction will allow us to develop more projects in the country. The country continues to be one of Atlas’ core markets, with a continued focus on developing customized renewable energy solutions for customers across different sectors of the national economy,” says Fabio Bortoluzo, country manager of Atlas Renewable Energy in Brazil.

The transaction’s closing is subject to the satisfaction of certain precedent conditions negotiated between the parties, including the approval of the Administrative Council for Economic Defense (CADE, for its acronym in Portuguese), among other customary conditions for transactions of this nature.

About Atlas Renewable Energy 

Atlas Renewable Energy is an international renewable energy generation company that has developed and built over 4 GW of contracted projects, of which 2.2 GW are operational. Atlas has specialized in developing, financing, constructing, and operating renewable energy projects throughout the Americas since early 2017. The company includes an experienced team with a deep global power market and renewable energy expertise, with the longest track record in the renewable energy industry in the Americas and Europe. 

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 the development, construction, and operation of large-scale projects, as well as a deep and long-standing track record in ESG and sustainable development. For more information, visit: www.AtlasRenewableEnergy.com