Atlas Renewable Energy has secured approximately BRL 1 billion (around USD 179 million) in financing from Brazil’s National Bank for Economic and Social Development (BNDES) for the construction of the Draco Solar Complex in Minas Gerais, Brazil. The project will consist of 11 photovoltaic power plants with a total installed capacity of 505 MWac (579 MWdc), capable of supplying energy equivalent to powering 569,000 homes.

Construction of the Draco Solar Complex is expected to generate around 2,100 direct jobs. The complex is slated to begin operations in early 2026.

In addition to the solar plants, the project will include the construction of a 500 kV substation and a single-circuit, 15 km transmission line connecting the facility to Brazil’s National Interconnected System (SIN).

Carlos Barrera, CEO of Atlas Renewable Energy, stated, “We are very pleased to see Atlas work with BNDES again, this time financing our Draco Solar Complex. Together, we have financed the implementation of nearly 2 GW of installed solar capacity across Brazil, not only accelerating the country’s energy transition, but also strengthening local supply chains, generating skilled jobs, and delivering reliable, cost-effective power to key industries, such as Data Centers.”

BNDES President Aloizio Mercadante commented, “This project adds a significant volume of clean, renewable energy to our electricity mix and supports the government’s decarbonization policy. With Brazil’s solar capacity now at 39 GW, BNDES remains committed to the green agenda across energy production, process decarbonization, and forest restoration.”

Atlas and BNDES have a history of collaboration, initially working together on dollar-denominated financing. This new BRL-denominated agreement reflects both parties’ continued innovation in renewable energy financing.

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