Start Atlas Renewable Energy, Hydro Rein and Albras form a partnership to develop, build and operate a self-producing solar energy plant in Minas Gerais

Atlas Renewable Energy, Hydro Rein and Albras form a partnership to develop, build and operate a self-producing solar energy plant in Minas Gerais

May 3, 2022 11:53 am to 11:53 am
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Construction is expected to begin in the fourth quarter of 2022. Photo: Envato Elements

Atlas Renewable Energy, Hydro Rein and Albras closed a new partnership for the development of a solar energy self-production project in Minas Gerais, which is expected to generate 438 MW of energy

Atlas Renewable Energy, Hydro Rein and Albras announced this Monday (2) that they plan to form a joint venture to develop, implement and operate a solar energy self-production project through a solar plant located in Paracatu, municipality of Minas Gerais, Brazil, which will have a total planned capacity of 438 MW. The project will provide renewable energy term for Albras' primary aluminum plant.

Solar energy self-production project will use more than 700,000 solar panels

Atlas Renewable Energy's solar plant, in partnership with Hydro Rein and Albras, was named 'Good luck'. Its construction is scheduled for the fourth quarter of this year, and its operations are planned to begin in the fourth quarter of next year. In total, it will be invested by the companies involved in the self-production of solar energy an estimated amount of US$ 320 million.

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The project was sent to the competition authority (CADE) for authorization. Albras, within the solar energy self-production project in the state of Minas Gerais, signed a power purchase agreement stipulated in US dollars with the plant, for an annual supply of 815 GWh from 2025 to 2044. It is worth mentioning that the contract covers 12% of the company's annual energy consumption. 

The company's primary aluminum plant, which will be powered by the Atlas Renewable Energy project, Hydro Rein and Albras, is located in the state of Pará and is a joint venture between Hydro and Nippon Amazon Aluminum Co. Ltd. (NAAC). Albras is the largest producer of primary aluminum in the country, with a capacity of 460 thousand tons per year, and which meets both the demands of the national and international markets. THE solar plant of the Boa Sorte renewable energy self-production project will have more than 800,000 bifacial modules, which will provide enough energy to avoid the emission of 61,500 tons of CO2 per year.

Understand how the self-producing solar plant in Minas Gerais will work

Previously, in the self-production modality, the consumer invested in the installation of a plant, which was usually hydroelectric, assuming all the risks involved in projects of this type.

The main advantage of making this type of investment was to stop paying sector charges that burden the energy tariff and escape the management of companies. Another benefit is that energy that is not consumed can be sold on the market, generating additional value outside the core business of companies. With renewable energies, generators have sought to sell plant quotas to final consumers.

In this arrangement, the generator guarantees an income that justifies the investment in the construction of a new plant and the consumer no longer bears the risk and the work of managing a plant.

Meet the companies involved in the project

Atlas Renewable Energy is a renewable energy company that creates, builds, finances and operates sustainable projects since the beginning of 2017 in the Americas. Atlas has an experienced team with the longest track record in the solar energy sector in Latin America.

Hydro Rein was founded last year as part of Hydro's strategy to expand its sustainable energy business. The company aims to become the preferred supplier of renewable energy and other energy solutions to industrial customers.

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