- $3 billion refinancing structured across 11 jurisdictions, positioning it as the largest corporate refinancing for non conventional renewables in Latin America.
- Backed by major global banks including BNP Paribas, Crédit Agricole, Goldman Sachs, Morgan Stanley, MUFG, Natixis CIB, and Santander CIB.
- Strengthens capital structure for a solar and storage portfolio concentrated in Chile, with additional exposure in Brazil and Mexico.
Atlas Renewable Energy has secured a $3 billion corporate refinancing covering its portfolio of solar and storage assets across Latin America, in what is expected to be the largest transaction of its kind for non conventional renewable energy in the region.
The deal consolidates Atlas’ position as a dominant independent power producer in Latin America and deepens institutional backing for utility scale clean energy at a time when global capital is scrutinizing emerging market risk.
Executed with support from sponsor Global Infrastructure Partners and a syndicate of international lenders, the refinancing brings together BNP Paribas, Crédit Agricole, Goldman Sachs, Morgan Stanley, MUFG Bank, Natixis CIB, and Santander CIB. The transaction spanned 26 law firms across 11 jurisdictions, a measure of both its size and structural complexity.
For Latin America’s energy transition, the implications are material. Access to large scale, competitively priced capital remains one of the primary constraints on renewable deployment. By refinancing at the corporate level, Atlas is repositioning its balance sheet to lower financing costs and extend maturities across a high performing regional portfolio.
Portfolio Scale and Financial Maturity
The refinancing covers a portfolio primarily located in Chile, one of the region’s most advanced renewable markets, with additional projects in Brazil and Mexico. These markets combine strong solar resources with evolving regulatory frameworks, long term power purchase agreements, and growing demand for storage.
The scale of the capital raised reflects sustained institutional confidence in the asset class and in Atlas’ governance model. As Carlos Barrera, CEO of Atlas Renewable Energy, stated: “Securing a refinancing of this magnitude is a strong vote of confidence from global financial institutions for our brand and forward strategy in the region”.
He added: “The commitment of our investors and banking partners reflects conviction on the quality of our portfolio and performance of our team. With strong governance, disciplined execution and growth, Atlas has not only become the largest IPP in the renewable energy sector in Latin America but has proven to generate sustainable value in multiple markets over the past decade. This refinancing is also a sign of the company’s financial maturity and will support its next phase of growth.”
For C suite executives and infrastructure investors, that financial maturity is not cosmetic. Corporate refinancings at this scale allow developers to recycle capital, optimize leverage, and improve weighted average cost of capital. In emerging markets, where currency volatility and political shifts can heighten risk, institutional participation at this depth also provides a stabilizing signal to secondary investors and credit markets.
Governance, Regulation, and Market Significance
Chile, Brazil, and Mexico each present distinct regulatory trajectories. Chile has advanced market based renewable procurement and grid integration reforms. Brazil continues to rely on structured auctions and private PPAs to drive solar and wind deployment. Mexico remains more complex, with policy debates around state control and private generation. Against this backdrop, a $3 billion refinancing anchored by global banks indicates that disciplined asset selection and contractual structures can still attract deep pools of capital.
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Atlas has built its strategy around long term PPAs, diversified counterparties, and integrated battery storage. That mix aligns with global ESG frameworks emphasizing grid stability, decarbonization, and resilience. It also responds to investor pressure for assets that can withstand price volatility and evolving policy regimes.
The company’s evolving capital structuring approach reflects a broader trend: renewable developers are increasingly moving beyond project by project financing toward portfolio and corporate level instruments. This shift enables scale, accelerates deployment timelines, and opens the door to institutional investors that prefer diversified exposure.
What Global Leaders Should Take Away
For policymakers, the transaction demonstrates that clear regulatory signals and enforceable contracts can mobilize multibillion dollar capital flows into clean energy across emerging markets.
For banks and asset managers, it highlights that Latin America remains investable at scale when governance standards, sponsor backing, and asset performance are aligned.
For corporate buyers of renewable power, it reinforces that regional developers are reaching financial depth comparable to established players in North America and Europe.
As global capital rotates toward infrastructure aligned with net zero commitments, transactions of this magnitude will shape where and how capital is deployed. Atlas’ refinancing is not simply a balance sheet exercise. It strengthens the financial architecture underpinning Latin America’s energy transition and positions the region as a more mature node in global clean energy markets.
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