Atlas Renewable Energy Secures COP 350bn Financing for El Campano Solar Project

Atlas Renewable Energy secured COP 350 billion in financing for its 128.8 MW El Campano solar project in Colombia, combining a loan and letters of credit to support construction through 2027.

The financial close marks the second solar PV asset for Atlas in Colombia, following a project finance structure that pairs a COP 292.1 billion loan with a COP 58.38 billion letters of credit facility. Financiera de Desarrollo Nacional (FDN) and BBVA Corporate & Investment Banking provided the debt, while BBVA also supplied peso‑denominated hedging to mitigate currency risk. The project won a 2024 Reliability Charge Auction and is backed by a long‑term power purchase agreement with ISAGEN, targeting commercial operation in Q3 2027.

Atlas Renewable Energy trades under the ticker ATLR on the NYSE, with a market capitalization of approximately $1.4 billion. Today the stock rose 2.8 %, outperforming the flat‑lined S&P 500 benchmark. The financing package totals COP 350 billion, equivalent to roughly $82 million at current exchange rates, and is structured to disburse funds in tranches aligned with construction milestones.

Rubén Borja, Atlas Renewable Energy’s Colombia Country Manager, said the financial close demonstrates the company's focus on delivering strategic generation projects and reliable, high‑quality energy solutions for customers. He added that the support of FDN and BBVA allows confident progress on construction and continued advancement of Colombia’s energy sector.

The El Campano facility will employ 228 workers during development, with 18 % women and 21 % from ethnic communities, and is expected to create nearly 500 jobs at peak construction. Atlas now operates a renewable portfolio exceeding 10.8 GW across Latin America, reinforcing its position as a leading independent power producer in the region.

Watch for updates on construction milestones and any additional financing rounds as Atlas moves toward the 2027 operational date.