Hydro Rein, Atlas Renewable Energy, and ALBRAS will jointly develop, build, and operate a self-production 438 MW solar plant in Paracatú, Brazil. The plant will supply Albras’ primary aluminium plant with long-term renewable power. The proposed solar plant in Boa Sorte is scheduled to open in the fourth quarter of 2023. The plant’s construction is scheduled to begin in the fourth quarter of 2022. A total of $320 million is expected to be invested (100 per cent basis). The project has been submitted to the competition authority (CADE) for clearance.
More than 800,000 bifacial modules will be installed at the Boa Sorte solar plant, which will provide enough energy to avoid the annual emission of 61,500 tonnes of carbon dioxide. Within the scope of the self-production project, Albras has signed a US dollar denominated power purchase agreement with Boa Sorte for an annual supply of 815 GWh from 2025 to 2044. The agreement covers 12 per cent of Albras’ annual power consumption.
Albras primary aluminium plant, located in the Brazilian state of Pará, is a joint venture between Hydro and Nippon Amazon Aluminium Co. Ltd. With a capacity of 460,000 tonnes per year, Albras is Brazil’s largest primary aluminium producer, supplying both domestic and international markets. Atlas Renewable Energy, on the other hand, is a renewable energy generation company that, since early 2017, has been developing, financing, constructing, and operating renewable energy projects across the US. Hydro Rein was founded in 2021 with the aim of becoming the preferred renewable energy and other energy solutions supplier for industrial clients. Hydro Rein is also developing a range of energy solutions to assist industries with the management and optimization of its energy consumption and storage behind-the-meter.
