Atlas, Hydro Rein to build 438-MW solar park in Brazil to serve Albras

Albras, the largest producer of primary aluminum in Brazil, will be buying electricity from a new 438-MW solar power plant to supply its facility in the state of Para, it was announced on Monday.

Actis-backed Atlas Renewable Energy and Hydro Rein are setting up a joint venture to build the USD-320-million (EUR 297m) Boa Sorte solar park in Paracatu, Minas Gerais. The plant will consist of over 800,000 bifacial modules.

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Albras, which is owned by Norway’s Hydro and Nippon Amazon Aluminium Co Ltd (NAAC), will be buying 815 GWh of electricity from Boa Sorte as part of a US-dollar-denominated power purchase agreement (PPA) that will run from 2025 until 2044. The contracted volume will be enough to cover 12% of Albras’ annual power needs.

The solar project is awaiting clearance from the competition authority (CADE) and is expected to enter the construction phase in the final quarter of the year. Completion is scheduled for the fourth quarter of 2023.

(USD 1.0 = EUR 0.928)