Atlas Renewable Energy partners with ArcelorMittal for solar project in Brazil
Sustainability Economics
E2E AUTOMATION AND LIFECYCLE MANAGEMENT OF NET-ZERO TRANSITIONS
Atlas Renewable Energy announced that it has entered into an agreement with ArcelorMittal, a steel producer, to supply renewable energy.??
Under the terms of the agreement, Atlas will endow funds for the construction of a 315 megawatts-peak (MWp) solar photovoltaic(PV) plant within the Luiz Carlos Solar Photovoltaic Complex in Paracatu, Minas Gerais.??
With a capacity of 315 MWp, the plant will produce 578 gigawatts-hour annually—sufficient to power more than 300,000 Brazilian households—and reduce CO2 emissions by 20,000 tons annually.?
The renewable energy generated by the solar PV plant will be directed towards powering ArcelorMittal’s steel plants in south and southeastern Brazil.??
The agreement forms a joint venture between Atlas Renewable Energy and ArcelorMittal to develop a significant Luiz Carlos Solar Photovoltaic Complex segment.??
Upon completion and operational status of the solar plant, ArcelorMittal will purchase Atlas Renewable Energy’s entire stake, thereby gaining full ownership of the project.?
Fabio Bortoluzo, Country Manager for Atlas Renewable Energy in Brazil, said, “This contract solidifies Atlas’ role as a key partner in the manufacturing sector, particularly within the steel industry, by supporting its transition to cleaner energy and advancing...