Atlas Renewable Energy has closed $475 million in financing for the Copiapó Solar project, a hybrid solar and battery energy storage system (BESS) that will deliver around 750 GWh of clean power annually to Chile’s mining sector. The facility—located in the sun-drenched Atacama region—represents a new standard in renewable infrastructure, combining photovoltaic generation and large-scale energy storage to ensure uninterrupted supply for energy-intensive industrial users.
The project will provide 100% renewable electricity to CAP Group subsidiaries through long-term power purchase agreements (PPAs), advancing decarbonization goals across the Coquimbo and Atacama regions. With 357 MWp of installed PV capacity and a 320 MW BESS capable of storing four hours of energy, Copiapó Solar is designed to stabilize grid operations and mitigate intermittency—an increasingly critical factor in industrial reliability.
Mining remains one of Chile’s largest sources of emissions and energy demand, consuming roughly one-third of the country’s total electricity. By supplying 450 GWh per year directly to CAP Group operations, the Copiapó Solar project enables one of Chile’s most significant industrial players to operate on entirely clean energy.
This shift reflects a broader industrial transition across Latin America, where hybrid systems are gaining traction as the most efficient pathway to continuous renewable power. BESS installations paired with large-scale solar arrays allow mining companies to maintain operational continuity without relying on fossil backup, aligning productivity with ESG commitments.
According to Atlas Renewable Energy’s Chile and Southern Cone Regional Manager, Alfredo Solar, the project not only “supplies the mining industry with reliable renewable energy” but also “becomes a benchmark for the future of the country’s energy industry,” reinforcing Atlas’ role as a strategic ally to large industrial consumers.
Copiapó Solar is the latest in a series of major energy infrastructure achievements for Atlas in 2025. The company previously secured $510 million in financing for its Estepa I & II hybrid projects and inaugurated BESS del Desierto, Chile’s first large-scale standalone battery storage system, with 200 MW of installed capacity and 800 MWh of storage.
Atlas’ recent wave of hybrid deployments signals a clear industry trajectory: solar + storage systems are becoming the core technology for Chile’s next generation of grid reliability and industrial competitiveness. By integrating BESS directly with PV assets, Atlas enables dispatch flexibility that can offset peak demand and stabilize variable renewable output—capabilities that position Chile as one of Latin America’s most advanced renewable markets.
The Copiapó financing was structured under highly competitive terms with participation from leading international financial institutions, including BBVA, Banco de Crédito e Inversiones (BCI), Crédit Agricole Corporate and Investment Bank (CACIB), Natixis CIB, SMBC, and Société Générale. Their involvement reflects growing global confidence in Chile’s renewable market, underpinned by strong policy frameworks and robust offtake arrangements from major industrial buyers.
David González, Managing Director and Head of Latin America Project and Structured Finance Group at SMBC, noted that the transaction “reflects our long-term commitment to Latin America’s energy transition and to the development of sustainable infrastructure that drives growth, competitiveness, and environmental benefits for our region.”
With over $1.2 billion in project financing secured in Chile over the past 13 months, Atlas Renewable Energy has solidified its reputation as one of Latin America’s most bankable developers. In recognition of these achievements, LatinFinance named Atlas its Project Sponsor of the Year, alongside additional honors for Energy Storage Financing of the Year and Renewable Energy Financing of the Year (Power)—further underscoring the company’s leadership in clean infrastructure innovation.
