The US-based company Atlas Renewable Energy has secured a US$448m loan from the Brazilian development bank (BNDES) to build its 902 MWp (768 MWac) Vista Alegre solar power plant, located in the State of Minas Gerais (central Brazil). Vista Alegre is currently the largest solar project to be built in a single phase in Brazil and will supply electricity to the Brazilian aluminum producer Albras through a 21-year power purchase agreement (PPA). Construction of the power plant started in 2023 and completion is scheduled for 2025. Once completed, the plant is expected to produce about 2 TWh/year of electricity, enough to power around 3 million households, and will offset emissions by 2.4 MtCO2 during its 20-year lifetime.
This financing marks the second collaboration between the BNDES and Atlas, following the successful financing of the 438 MW Boa Sorte Solar Power Plant, another joint venture with Albras, which will also supply clean energy for aluminum production.
As of end-2022, solar represented about 11% of Brazil’s installed capacity with 23.5 GW. The country currently has more than 7 GW of solar capacity under construction and more than 60 GW under development.
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