US renewable energy company Atlas Renewable Energy has reached a 21-year power purchase agreement (PPA) with Brazilian aluminium producer Albras to supply solar power.
Atlas will supply the energy from the 902MWp Vista Alegre photovoltaic project in the state of Minas Gerais in Brazil.
It is expected to begin operations in 2025 and will produce 2TWh of clean electricity per annum. This is enough to power a city such as Brasilia, with a population of almost three million.
The project will also offset 154,000 tonnes (t) of carbon dioxide emissions annually – equivalent to removing 61,800 cars from the streets.
The latest PPA is said to be the longest-term agreement ever signed in Latin America in the area of corporate renewable energy.
Atlas CEO Carlos Barrera stated: “This is an important step for Atlas as we continue our focus to partner with corporate customers to support their transition to clean energy. The closing of our second contract with Albras attests to our ability to provide a compelling tailored energy solution to our customers.
“Furthermore, it offers predictability to the energy management of our customers looking to achieve their sustainability goals. The scale and term of this deal underscore Atlas’s ability to address the needs of large energy consumers with reliability of execution, while fostering best-in-class ESG programmes in line with their values.”
Earlier in 2023, Atlas obtained a $210m loan from Banco Nacional de Desenvolvimento Econômico e Social for its Boa Sorte development, a 438MW solar project also to be located in Minas Gerais.
The project will generate 815GWh of clean energy annually, enough to power more than 394,000 homes while avoiding more than 61,000t of carbon emissions.