In a major step forward for Latin America’s clean energy transition, Atlas Renewable Energy has closed a massive $475 million financing deal to build one of Chile’s most ambitious solar and storage projects to date. The Copiapó Solar project, a hybrid photovoltaic and battery system will deliver 450 GWh of clean energy annually to Chilean mining giant CAP Group under long-term power purchase agreements.

Located in the sun-rich Atacama region, the Copiapó project will support CAP subsidiaries Compañía Minera del Pacífico (CMP) and Aguas CAP, helping them fully power operations in the Coquimbo and Atacama regions with 100% renewable energy.

“This is more than just a power project, it’s a model for sustainable industrial energy,” said Alfredo Solar, Regional Manager of Atlas Renewable Energy for Chile and the Southern Cone. “Copiapó Solar will help Chile lead the way in clean energy for energy-intensive sectors like mining.”

To make the project a reality, Atlas partnered with an elite lineup of global financial institutions including BBVA, BCI, Crédit Agricole CIB (CACIB), Natixis CIB, SMBC, and Société Générale. The financing, secured under competitive terms, marks a vote of confidence in both Atlas’ innovative model and Chile’s reputation as a renewable energy hotspot.

The hybrid system combines a 357 MWp solar plant with a 320 MW battery energy storage system (BESS) that can store four hours’ worth of solar output. That means clean, reliable electricity, day and night, for one of the most energy-hungry sectors in the region. In total, the project is expected to generate around 750 GWh of clean power annually.

What makes Copiapó even more exciting is its scalability. Atlas has designed the financing and infrastructure to support future capacity expansions, giving it the flexibility to serve more clients through Acierta, the company’s short-term energy supply business.

Industry leaders praised the project’s vision and impact.

“This closing reflects our long-term commitment to Latin America’s energy transition,” said David González of SMBC.

Mathieu Rousson of CACIB added, “We’re proud to support a project that demonstrates how solar-plus-storage can power industry in sustainable ways.”

The Copiapó Solar financing is part of a record-setting year for Atlas. In the last 13 months, the company has closed over $1.2 billion in project financing across Chile and Latin America. Other highlights include a $510 million deal for the Estepa hybrid project, a PPA with Colbún for a cutting-edge BESS system, and the inauguration of BESS del Desierto, the region’s first large-scale stand-alone battery storage project.

Thanks to these achievements, Atlas was honored by LatinFinance with three major awards:

• Project Sponsor of the Year
• Energy Storage Financing of the Year (for Estepa I & II)
• Renewable Energy Financing of the Year (for Brazil’s Luiz Carlos Solar Complex)

With the Copiapó project, Atlas continues to prove that large-scale renewable energy isn’t just possible it’s already powering the industries of tomorrow.