Atlas Renewable Energy executes first USD Project Financing in Brazil's Renewable Sector with IDB Invest and DNB Bank

Atlas Renewable Energy, a leading renewable energy company in Latin America, announced today that it has obtained a USD 67 million loan from IDB Invest, member of IDB Group, and from DNB Bank ASA (Norway) to finance the construction of Jacaranda, a 187MWp solar project being developed by Atlas Renewable Energy in Brazil, marking the first time that a Brazilian solar project has been fully financed in US dollars. The loan was secured from IDB Invest, including the Clean Technology Fund and the Canadian Climate Fund for the Private Sector in the Americas - Phase II, both administered by IDB Invest which provided a portion of the loan, together with a participation from DNB Bank ASA. This loan will finance the construction of the Jacaranda solar project, located in the municipality of Juazeiro, State of Bahia. The plant will generate 440GWh per year, which is enough to supply power to a city of over 750,000 inhabitants and avoid approximately 35,000 metric tons of CO2 emissions per year based on the GHG (Green House Gases) Protocol, and is also the equivalent of removing 36,800 vehicles from the streets of São Paulo in the same period of time.