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The project consists of 11 solar PV plant and is the latest partnership between Atlas Renewable Energy and BNDES. Image: Atlas Renewable Energy
Solar developer Atlas Renewable Energy has secured BRL1 billion (US$179 million) in financing for a 579MW Brazilian solar PV complex.
Located in southeast Brazil, the Draco Solar Complex is expected to enter into operation in early 2026 and will provide power to several key industries, including data centres.
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The project consists of 11 solar PV plants and the construction of a 500 kV substation and a single-circuit, 15 km transmission line connecting to Brazil’s National Interconnected System (SIN).
Funding was secured from the Brazilian Development Bank (BNDES), with whom the solar developer had previously partnered with, for the financing of other projects.
Nearly two years ago, Atlas Renewable Energy secured US$448 million to build the 902MW single-phase Vista Alegre solar plant in the country in November 2023 and US$210 million loan from BNDES to finance the 438MW Boa Sorte solar project in January 2023. Similar to this latest financing round, the Boa Sorte solar project consists of several PV plants (eight in total) and is also located in Minas Gerais.
According to Carlos Barrera, CEO of Atlas Renewable Energy, both companies have partnered to finance nearly 2GW of installed solar PV capacity across Brazil. As of June 2025, the country had already installed 59GW of solar PV capacity, according to data from Brazilian trade association Absolar. Most of the installed solar PV comes from distributed generation with more than 41GW.
The solar developer has been a prominent player in the region, with an operational portfolio of 3.6GW in Latin America and a further 2.5GW in advanced development.
Chile is among the countries the company is present in the region, and where it recently secured US$510 million in financing for a solar-plus-storage project. The project will have 215MW of installed solar PV capacity and a 418MW battery energy storage system with a 4-hour duration. Commercial operation of the project is targeted for the end of 2026.
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