Atlas Renewable Energy confirmed the closing of a US$475 million financing structure to develop the Copiapó Solar system, an initiative that will combine photovoltaic generation with battery storage in the Atacama Region. This project seeks to supply renewable electricity to the operations of Grupo CAP, one of the largest players in the mining and steel industry in Chile.
The solar storage project for the Chilean mining industry
Through long-term power purchase agreements(PPAs), Atlas will provide up to 450 GWh of sustainable energy annually to CAP subsidiaries such as Compañía Minera del Pacífico ( CMP) and Aguas CAP. The electricity obtained will supply their operations in the Atacama and Coquimbo regions with an emission-free source.
The Copiapó Solar development will have an installed solar capacity of 357 MWp and a BESS storage system of 320 MW to operate for four hours. The estimated annual generation is 750 GWh, establishing the project as one of the most relevant in the country in renewable energy with storage.
This financial support was structured with the participation of institutions such as BBVA, BCI, CACIB, Natixis CIB, SMBC and Société Générale, reflecting international confidence in the Chilean clean energy model.
Atlas will include mechanisms that will allow scaling the system in the future and commercializing part of the energy through its Acierta business unit, aimed at independent customers. This flexible approach consolidates Copiapó Solar as a replicable model for high-consumption industries by guaranteeing continuous supply through the integration of renewable technologies.
With this new step, Atlas exceeds US$1.2 billion in projects financed in the country in the last 13 months. This is in addition to the development of other systems, such as the Estepa project project and the Desert BESS plant.
Source and photo: Atlas Renewable Energy
