Atlas Renewable Energy

Atlas Renewable Energy is a renewable energy generation company that develops, finances, constructs, and operates solar and wind projects under long-term power purchase agreements (PPAs) across Latin America. Established in early 2017, the company has a portfolio of 578 MW of contracted solar and wind projects in various stages of development, construction, or operation. As of February 2022, Atlas aimed to expand its portfolio by an additional 1.5 GW in the coming years.

Atlas has a significant presence in Chile, where it operates several large-scale solar projects. In March 2022, it commenced commercial operations at a 244 MWp solar PV plant in Antofagasta under a 15-year PPA with Engie Energía Chile. In September 2023, the company inaugurated 600 MW of solar PV capacity across two projects in Minas Gerais, Brazil, both backed by corporate PPAs.

Atlas' operations are concentrated in Brazil, where it secured a notable project in November 2023. The company obtained USUSD 448 million in financing from the Brazilian Development Bank for a 902 MWp solar PV project in Minas Gerais, the largest single-phase solar PV project in Brazil at the time. In April 2023, Atlas signed a corporate PPA with Brazil's largest aluminum producer for the entire 902 MWp capacity of this project.

In March 2024, Atlas diversified its portfolio by entering the energy storage market. The company secured a 375 GWh 24/7 PPA with Codelco in Chile, which includes battery storage technology. This project marked Atlas' foray into integrating energy storage solutions to amplify the utilization of renewable energy sources in power systems.

Furthermore, Atlas expanded its offerings to include wind power in April 2022. The company signed a long-term PPA with Enel Generación Chile S.A. for 1.3 TWh/year from a 417 MW wind portfolio across three projects in Chile. These wind projects are expected to commence operations in 2025 and will contribute to Chile's clean energy transition.

Key customers and partnerships

In April 2022, Atlas Renewable Energy signed a long-term power purchase agreement (PPA) with Enel Generación Chile S.A. for 1.3 TWh/year from a portfolio of three wind projects totaling 417 MW in Chile. This marked Atlas' entry into the wind power market and strengthened its position as a preferred partner for large-scale utilities in Latin America.

In March 2024, Atlas secured a 375 GWh 24/7 PPA with Codelco, a Chilean state-owned corporation and the world's largest copper producer. This contract included the incorporation of battery storage technology, representing Atlas' foray into energy storage solutions.