Atlas Renewable Energy secures $67 million loan to fund solar project

By Devika Patel

Knoxville, Tenn., Oct. 26 – Atlas Renewable Energy has obtained a $67 million loan from IDB Invest and DNB Bank ASA (Norway), according to a press release.

The loan was secured from IDB Invest, including the Clean Technology Fund and the Canadian Climate Fund for the Private Sector in the Americas – Phase II, both administered by IDB Invest which provided a portion of the loan, together with a participation from DNB Bank ASA.

Proceeds will be used to finance the construction of Jacaranda, a solar project being developed by Atlas Renewable Energy in Brazil, marking the first time that a Brazilian solar project has been fully financed in U.S. dollars.

The renewable energy company is based in Miami.

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