ATLAS RENEWABLE ENERGY ANNOUNCES USD$152 MILLION FOR FINANCING OF THREE SOLAR ENERGY PLANTS IN BRAZIL

Atlas Renewable Energy, leader in clean energy in Latin America, announced the completion of long-term financing of three of its solar energy plants in Brazil for a total amount of USD $152 million. The financing was obtained through Banco do Nordeste (BNB), backed by an equivalent sum of commercial bank guarantees from BTG Pactual, Banco ABC Brasil, and Banco Bradesco. Together, the plants will have an installed capacity of more than 300 MWps, which has allowed them to achieve new standards for financial alliances and boost the Brazilian energy sector to higher levels of solar capacity. Each project has a 20-year power purchase agreement (PPA) with the Chamber of Electricity Sales (Câmara de Comercialização de Energia Elétrica- CCEE). It is estimated that the combined energy produced of 672.8 GWh / year will provide clean energy for a total of 470,000 families per year. Atlas Renewable Energy estimates that the operation of the plants will prevent the emission of 108,000 tons of CO2 per year.