Atlas has secured BNB financing to build the second phase of a solar plant in Brazil
The loan for the construction of the self-generating photovoltaic power plant was awarded to Atlas Renewable, a global Renewable power plant, through BNB’s Northeast Constitution Finance Fund, Sao Paulo, Brazil, 18 February 2022 / PRnewswire /Energy has secured a 407 million Brazilian reais (us $76 million) loan from The Northeast Constitution Finance Fund of Banco Nordonne for the construction of the Lar do Sol — Casablanca phase ii solar power plant.The plant will be located in the Brazilian city of Pira Bora in the state of Minas Gerais.The spontaneous plant will help Unipar provide power to produce chlorine for the water treatment needs of more than 60 million people.Atlas Renewable Energ will be the main investor and operator and will work with co-investor Unipar.Luis Pita, general manager of Atlas Renewable Energy in Brazil, said: “Projects like this are an example of the long-term relationship between Renewable Energy producers, investors and customers.”We are very proud that Unipar and BNB, recognizing Atlas’s capabilities and track record in this industry, have chosen us as a partner to build and operate large-scale renewable energy projects and implement social and environmental programs to benefit the communities surrounding the projects.””The financing of renewable energy projects is given priority support in the supportive policies of The Bank of Northeast Brazil.Banco Northeast is the largest regional development bank in Latin America, and it comes out on top because its development mission is focused on creating jobs and income in the region where it operates, “said Diego Rocha Batista, president of Banco Northeast.”In addition to creating the right conditions for the industry, the credit program is part of the bank’s environmental sustainability initiatives.The re-completion of the financing with Brazil’s Atlas Renewable Energy reinforces the commitment to the sector and confirms that the conglomerate is an outstanding partner for the region.”The Lar do Sol — Casablanca phase ii solar power station will cover an area of about 700 hectares and install 460,000 solar panels with an installed capacity of 239MWp.Based on average household electricity consumption in Brazil, the plant will produce enough electricity to power 261,662 homes annually.In addition, the plant will reduce carbon dioxide emissions by 40,500 tons per year, equivalent to taking 16,200 cars off the streets of Sao Paulo, Brazil.In addition to powering Unipar’s chlorine and chloride production, the plant will employ about 1,200 local employees during peak construction and will implement the Atlas Female Workforce program “We are All Part of the Same Energy”.With the construction of Lar Do Sol — Casablanca Ii, at least five United Nations Sustainable Development (SDG) goals (No. 5: Gender equality;No. 6: Clean water and sanitation;No. 8: Formal employment and economic growth;10th: Reducing inequality;Number 12: Responsible consumption and production).