IDB Invest, a member of the IDB Group, provided financing equivalent to $67.2 million, with a tenor of 14.8 years, for the design, construction, operation and maintenance of four bifacial photovoltaic plants, with a combined capacity of 187 MW. The Jacaranda project will be developed by four special-purpose entities established in Brazil, which belong to subsidiaries owned by the company Atlas Renewable Energy.

The joint power generation of the projects increases the installed capacity of non-conventional renewable energy and the diversification of the energy matrix in Brazil. Production will be approximately 440 GWh per year, enough to meet the energy demand of a city of 750,000 inhabitants, and will contribute to reducing the equivalent of 35,000 tons of CO2 per year. This would be comparable to removing 36,800 vehicles from the streets of Sao Paulo in the same period. The plant will be located about 5 kilometers from the center…