Atlas Renewable Energy, Hydro Rein, and Albras Form Partnership to Develop, Construct, and Operate Solar Self-Generation Plant in Minas Gerais

Atlas Renewable Energy, Hydro Rein, and Albras Formed a New Partnership for the Development of a Solar Self-Production Energy Project in Minas Gerais, Which Should Generate 438 MW of Energy

Atlas Renewable Energy, Hydro Rein, and Albras announced on Monday (02) that they plan to form a joint venture to develop, implement, and operate a solar self-production energy project through a solar plant located in Paracatu, a municipality in Minas Gerais, Brazil, which will have a planned total capacity of 438 MW. The project will provide renewable energy in the long term for Albras’ primary aluminum plant.

Solar Self-Production Energy Project Will Use Over 700,000 Solar Panels

The solar plant by Atlas Renewable Energy, in partnership with Hydro Rein and Albras, has been named ‘Boa Sorte‘. 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, the companies involved in the solar self-production energy project will invest an estimated amount of US$ 320 million.

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

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

Understand How the Solar Self-Production Plant Will Work in Minas Gerais

Previously, under the self-production modality, the consumer invested in the installation of a plant, which was usually a hydropower plant, assuming all the risks involved in such projects.

The main advantage of making this type of investment was avoiding sector charges that burden the energy tariff and are outside the control of the companies. Another benefit is that unused energy can be sold in the market, generating additional value outside of the companies’ core business. With renewable energies, generators have sought to sell quotas of plants to end consumers.

In this arrangement, the generator ensures a revenue that justifies the investment in building 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 generation company that creates, builds, finances, and operates sustainable projects since early 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 business in sustainable energies. The company aims to become the preferred supplier of renewable energy and other energy solutions for industrial clients.