Atlas Renewable Energy And Bancomext Announce Conclusion Of Long-Term Financing For A 129.5 MW Solar Power Plant In Mexico

• Atlas Renewable Energy and Bancomext announce US $ 88.5 million financing for the Guajiro plant
• It is estimated that Guajiro will generate 300 GWh per year, equivalent to the electrical requirements of about 120,000 homes

Mexico City /PRNewswire / - Atlas Renewable Energy and the Banco de Comercio Exterior (Bancomext) today announced the signing of a long term financing agreement for solar power plant Renewable Energy Atlas in Mexico, located in the state of Hidalgo.

Bancomext will provide $ 88.5 million to finance the construction of the project, with a $ 17 million credit line for the goods movement tax (VAT). The plant will have installed capacity of approximately 129.5 MWp.

The project won a Power Purchase Agreement (PPA) with the Federal Electricity Commission (CFE), Mexico's federal electricity company, in the first long-term energy tender held in 2016 as part of of Mexico's energy reform.

The Guajiro Solar project is expected to start operations in the second quarter of 2019. The plant will cover more than 410 hectares in Nopala de Villagrán, located in the state of Hidalgo. Guajiro Solar manages 300 GWh per year, equivalent to the demands of approximately 120,000 residences. Atlas Renewable Energy estimates that the project operation will prevent the annual emission of more than 215,000 tonnes of carbon dioxide, which is equivalent to taking more than 46,000 cars from circulation.

Carlos Barrera , CEO of Atlas Renewable Energy, stated: "The financing of the Guajiro Solar project represents an important milestone for Atlas Renewable Energy and consolidates Mexico as one of our main markets. renewable energy projects throughout Latin America. " He acknowledged Bancomext's management of this transaction, as well as the positive impact it had on accelerating investment in renewable energy projects throughout Mexico. "As we continue to grow, we will look for other opportunities to make new partnerships with leading financial institutions like Bancomext and government entities like CFE," he concluded.

Camilo Serrano , general manager of Atlas Renewable Energy for Mexico, emphasized that "This project demonstrates the collaboration of public and private interests to increase the presence of renewable energy in Mexico," and commented that they will seek more opportunities to expand Atlas Renewable footprint Energy in Mexico.

Francisco N. González Díaz, general director of Bancomext, emphasized that: "The Guajiro Solar project positions Atlas Renewable Energy at Atlas Renewable Energy as a reliable investment partner and infrastructure development within the Mexican energy sector." This project will generate 300 GWh per year while at the same time helping to achieve the goal of generating 35% of Mexico's energy from renewable sources by 2024. In addition, it provides economic stimulus for the region. He added: "This type of financing is intended to continue supporting the development of projects aligned with the Federal Government's market strategy for renewable energy."

As its first solar energy project in Mexico, Guajiro is part of Atlas Renewable Energy's growth strategy to deepen its position in Mexico, a key market for Atlas Renewable Energy. The company launched its regional expansion last year with the inauguration of a plant in Chile that generates 110 MW and the acquisition of a 70 MW plant in operation in northern Chile . In July of this year, the company raised a green bond for two of its plants in operation in Uruguay and, currently, the company is undergoing construction and advanced development for several photovoltaic plants in Brazil, with a total capacity of 450 MW.

Bancomext considers the energy sector strategic for the country's development, so it has a program to finance renewable energy projects through the granting of long-term resources in local currency or US dollars to support companies during the phases of construction, operation and maintenance of projects.

About Atlas Renewable Energy
Atlas Renewable Energy (Atlas) is a renewable energy generation company that develops, builds and operates renewable energy projects with long term energy contracts throughout Latin America. The current portfolio is more than 800 MW of projects contracted in development, construction or operational phases and aims to grow another 1.5 GW in the next decade.

Launched in early 2017, Atlas includes an experienced team with the longest track record in the solar energy industry in Latin America. The company is recognized for its high standards in developing, building and operating large-scale projects.

Atlas Renewable Energy is part of the IV Energy Fund, founded by Actis, a major private equity investor in the energy sector in emerging markets. Actis has allocated more than $ 600 million of shares in Atlas Renewable Energy to invest in long-term contracted renewable energy projects.

Atlas' growth is focused on Latin America's leading markets and emerging economies, using its proven development, commercialization and structuring know-how to bring clean energy to the region. By actively engaging with the community and stakeholders at the heart of its project strategy, Atlas works daily to provide the world with a cleaner future.

To learn more about Atlas Renewable Energy, visit: http://www.atlasrenewableenergy.com/ .