Atlas Renewable Energy, a leading clean energy developer, has successfully secured BRL 1 billion (approximately US$179 million) in non-recourse project financing for its 579MW Draco Solar Complex in southeastern Brazil. This latest financial close further strengthens Atlas Renewable Energy’s significant partnership with the Brazilian Development Bank (BNDES).
The Draco Solar Complex, comprising 11 individual solar photovoltaic (PV) plants, is expected to commence operations in early 2026. Once operational, the complex will deliver clean energy to several key industrial consumers, including data centers, contributing to Brazil’s growing demand for sustainable power. The project also includes the construction of a new 500 kV substation and a 15 km transmission line to connect to Brazil’s National Interconnected System (SIN).
This financing marks another collaborative success between Atlas Renewable Energy and BNDES. The two entities have previously partnered on other large-scale solar initiatives in Brazil, including the 902MW Vista Alegre solar plant, which secured US448millioninfinancinginNovember2023,andthe∗∗438MWBoaSortesolarproject∗∗,whichreceivedaUS210 million loan from BNDES in January 2023. The Boa Sorte project, also located in Minas Gerais, similarly consists of multiple PV plants.
According to Carlos Barrera, CEO of Atlas Renewable Energy, the ongoing collaboration with BNDES has facilitated the financing of nearly 2GW of installed solar PV capacity across Brazil. As of June 2025, Brazil’s total installed solar PV capacity stands at an impressive 59GW, with over 41GW attributed to distributed generation, as reported by Brazilian trade association Absolar.
Atlas Renewable Energy maintains a prominent presence across Latin America, boasting an operational portfolio of 3.6GW and an additional 2.5GW in advanced development. The company recently secured US$510 million in financing for a solar-plus-storage project in Chile, which will feature 215MW of solar PV capacity and a 418MW battery energy storage system with a four-hour duration, targeting commercial operation by the end of 2026.
