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July 1, 2020

Atlas Renewable Energy and Dow sign solar energy agreement

Atlas Renewable Energy has signed a large-scale solar power purchase agreement (PPA) with material science multinational company Dow in Brazil.

Atlas Renewable Energy has signed a large-scale solar power purchase agreement (PPA) with material science multinational company Dow in Brazil.

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The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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The Jacaranda photovoltaic solar plant in Juazeiro, in the state of Bahía, will supply energy over the 15-year PPA. Atlas Renewable Energy will develop, build and operate the plant.

More than 450,000 solar modules will provide a capacity of 187MW-at-peak. The company expects the facility to offset nearly 35,000 metric tonnes of carbon emissions annually.

Funding for this and two other plants was secured in March, when four Brazilian banks provided $152m of funding.

Atlas Renewable Energy CEO Carlos Barrera: “Atlas is positioning itself as the right partner for large consumers in Latin America to serve them with clean energy and help lower their carbon footprints and reduce their costs.

“Our aim is to create competitive clean energy solutions for our clients by developing and implementing new, world-class renewable energy projects, all while acting responsibly with local communities.

“We look forward to continue supporting Dow , and other energy users across Brazil and Latin America to reduce their carbon footprints while reducing their electricity bill.”

From the first half of next year, Atlas will supply more than 440GWh of energy annually to Dow ’s Aratu Site.

The PPA with Atlas will support Dow ’s goal of sourcing 750MW of power demand from renewable sources by 2025.

Dow Energy & Climate Change global business director Claudia Schaeffer said: “Dow is pleased to partner with leading clean power producers like Atlas Renewable Energy as we work to reduce our emission intensity and support projects that add greater renewable contribution and diversity to the grid.”

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Free Report
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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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