Atlas Renewable Energy has secured $510 million financing for the Estepa project. It is a hybrid solar photovoltaic and battery energy storage system (BESS) project located in Chile’s Antofagasta region. The project features a photovoltaic solar plant with an installed capacity of 215 MW and an estimated generation of 600 GWh per year.
The project also consists of two BESS with a 418 MW capacity. The company worked with financial institutions such as BNP Paribas, Crédit Agricole Corporate & Investment Bank, DNB Bank, Scotiabank Chile, Sumitomo Mitsui Banking Corporation, and the Bank of Nova Scotia to secure the financing.
Furthermore, the project is supported by two long-term power purchase agreements inked with Codelco and Colbun. The project is expected to reach commercial operation by the end of 2026.
