MIAMI, Feb. 22, 2021 /PRNewswire/ -- As presented by Bloomberg NEF's 1H 2021 Corporate Energy Market Outlook published on Jan. 26, 2020, Atlas Renewable Energy ranked as the number one clean energy developer selling renewable energy to corporate buyers in Latin America during 2020 and occupied 6th place globally with over half a gigawatt contracted for private offtakers in the region.
This success includes a landmark long-term Power Purchase Agreements (PPA) that Atlas Renewable Energy contracted with Anglo-American, a natural resources multinational, which will procure clean energy to its operations in Brazil from the Casablanca project, Atlas Renewable Energy's 349MW solar plant in Minas Gerais. Casablanca is the largest bilateral solar PPA signed in Latin America to this date.
Similarly, Atlas Renewable Energy signed another groundbreaking project with the Brazilian subsidiary of one of the largest petrochemical multinationals, Dow Chemical. The energy for that project will be sourced from Atlas Renewable Energy's Jacaranda solar plant and will provide clean energy to Dow's operations in the state of Bahía under a novel deal structure that addresses solar intermittency and provides a 24h energy offering by swapping the excess solar energy during the day with other clean energy sources that can produce at nighttime, thereby serving a continuous energy load.
Both projects fall under these companies' strategy to attain ambitious sustainability goals, aiming to reduce a considerable amount of their CO2 emissions and clean their energy matrix, a trend that is rapidly being adopted and implemented in Latin America by large energy consumers in the natural resources and chemical sectors. And, importantly, both projects are uniquely characterized by equally pioneering and ambitious social community engagement programs promoting diversity and inclusion.
"We are extremely proud of the growth that Atlas Renewable Energy has consistently been able to sustain over recent years, repeatedly offering tailor-made energy solutions to our clients. Going forward, we see ourselves continuing to innovate in this space to reduce the carbon footprint of companies and institutions, while also reducing their energy bill." said Carlos Barrera, Atlas Renewable Energy's CEO. "The private sector is becoming more conscious about the need to operate sustainably. As such, procuring clean energy has become essential for large energy consumers, and Atlas can support them to find creative and smarter solutions to accelerate their adoption of cleaner sources of energy."
According to Bloomberg NEF's report, which tracks corporate clean energy trends, Corporate PPA activity in Latin America in 2020 totaled 1.5GW, of which 1,047MW was procured in Brazil, the region's largest economy and clean energy market. Brazil PPA volumes nearly doubled from 2019 and solar contracts accounted for nearly 80% of this growth, driving a strong trend towards solar energy at the regional level.
With these deals, large mining and chemical companies in Brazil dominated Latin America's corporate procurement landscape in 2020. Global miner Anglo American was the largest corporate offtaker, based on Bloomberg's report, followed by the Brazilian subsidiary of US-based multinational Dow Chemical.
With this major achievement, Atlas Renewable Energy looks to the future to continue supplying clean energy to big energy consumers across the Americas, accelerating the region's transition toward clean energy, while promoting best practices and elevating the industry standards.
About Atlas Renewable Energy
Atlas Renewable Energy is a renewable energy generation company that develops, builds, and operates renewable energy projects with long-term contracts across the Americas. The current company portfolio is 2.2GW of contracted projects in development, construction, or operational stages, and aims to expand by an additional 4GW in the next years.
Launched in early 2017, Atlas Renewable Energy includes an experienced team with the longest track record in the solar energy industry in Latin America. The company is recognized for its high standards in the development, construction, and operation of large-scale projects.
Atlas Renewable Energy is part of the Energy Fund IV, founded by Actis, a leading private equity investor in the energy sector. Atlas Renewable Energy's growth is focused on the leading emerging markets and economies, using its proven development, commercialization, and structuring know-how to accelerate the transformation toward clean energy. By actively engaging with the community and stakeholders at the center of its project strategy, the company works every day to provide a cleaner future.