Albras, a joint venture between Hydro and NAAC - Nippon Amazon Aluminium Co. Ltd, along with Atlas Renewable Energy, a leader in renewable energy and participants in Vista Alegre Comercializadora de Energia S.A., secured a financing of USD 447.8 million (equivalent to R$ 2.18 billion) from the Brazilian Development Bank (BNDES). This marks the largest dollar-denominated funding allocated for renewable energy, supporting the largest solar power purchase agreement (PPA) in Latin America.

The Vista Alegre plant, located in Janaúba, state of Minas Gerais, has an installed capacity of 902 MWp, equivalent to 768 MWac, and will produce 200 MW average or 2 TWh annually. Over the 20 years of the plant's operation, it is expected to avoid the emission of 2.4 million tons of CO2. The generated power is sufficient to supply energy to more than 3 million people.

"This partnership is aligned with our Sustainability strategy, focused on diversifying the energy matrix through renewable sources. The Vista Alegre plant, the largest solar energy project in Latin America, will ensure Albras a supply of clean and sustainable energy for 21 years. With BNDES financing, we are ensuring the success of the project," explains Evaldo Batista, Director of Metals and Energy at Albras.

In addition to generating more than 2,500 jobs during the construction phase, with this photovoltaic project, Atlas will continue to promote best ESG (Environmental, Social, and Governance) practices, providing long-term benefits to the surrounding communities during both the construction and operational phases.

"This is another significant step for Atlas and a milestone in the construction of the largest solar Power Purchase Agreement (PPA) in Latin America. Dollar-denominated PPAs have been gaining strength in Brazil as an excellent solution to provide clean energy to companies, offer currency hedging for large exporters, and help clients achieve their sustainability goals through access to renewable energy. Once again, BNDES places its trust in Atlas, allowing us to ensure the viability of this project to drive the use of solar energy in the country," comments Fábio Bortoluzo, Director of Atlas in Brazil.

About Albras

Albras is the largest producer of primary aluminum in Brazil and has been supplying high-purity ingots to the domestic and international markets since 1985. Hydro is the main shareholder of the company, holding 51% of the shares in this joint venture. The other shareholder is NAAC - Nippon Amazon Aluminium Co., Ltd., a Japanese consortium formed by a Japanese government agency, trading companies, consumers, and aluminum product manufacturers.

 About Atlas Renewable Energy

Atlas Renewable Energy is an international renewable energy generation company with over 4 GW in contracted projects, of which 2.2 GW are in operation. Atlas specializes in developing, financing, building, and operating renewable energy projects since 2017. The company has an experienced team with deep knowledge of the global energy and renewables market, with the longest track record in the Ibero-American region. The company's strategy is focused on helping large businesses transition to 100% clean energy. Atlas Renewable Energy is widely recognized for its high standards in the development, construction, and operation of large-scale projects, as well as for a deep and lasting commitment to ESG and sustainable development. For more information, visit: https://www.atlasrenewableenergy.com/pt-br/