Atlas Renewable Energy Expands Presence in Colombia with Acquisition of First Solar Project

Atlas Renewable Energy, a renowned global provider of renewable energy solutions for large-scale consumers, has recently acquired its inaugural solar project in Colombia, known as the Shangri-La project, situated in the Department of Tolima. Anticipated to generate around 403.7 GWh per year, this project will deliver clean energy via a power purchase agreement (PPA) with a leading Colombian entity specializing in the distribution of this vital public service. Atlas successfully secured an award for the project in the reliability charge auction organized by the National Government, thereby contributing to Colombia’s overall installed capacity.

Scheduled to commence operations by the end of 2025, the Shangri-La project is poised to emerge as one of Colombia’s largest solar facilities and the most significant solar asset in Tolima. Its annual energy generation will suffice for over 214 thousand Colombian households, substantially reducing CO2 emissions by nearly 162 thousand tons per year.

Ruben Borja, the Country Manager of Atlas Renewable Energy in Colombia, expressed the significance of the Shangri-La acquisition, highlighting its contribution of 201 MWp towards the company’s ambitious 1 GW target. He emphasized Atlas’s strategic approach, combining in-house development capabilities with strategic mergers and acquisitions to bolster its project pipeline and realize its business objectives. Additionally, Borja underscored the importance of advancing projects in advanced development stages to address the prevailing energy supply-demand dynamics and facilitate a sustainable and equitable energy transition.

Andres Salas, CEO and founder of Rayo, expressed pride in the successful development of the Shangri-La project in collaboration with Black Orchid Solar, emphasizing its pivotal role in Colombia’s energy transition and Rayo’s commitment to the country’s development. He highlighted Rayo’s future focus on delivering energy services to Colombian industrial clients, marking a significant milestone in the company’s business expansion.

Atlas Renewable Energy plans to implement its established sustainability strategy in the Shangri-La project, aiming to foster sustainable practices and drive social and environmental initiatives. This includes promoting local employment opportunities, supporting community development during the construction phase, and launching social programs like the “We are part of the same energy” initiative, aimed at providing technical training to local groups and engaging local contractors in the construction process. Additionally, the project intends to introduce EdMundo, a social program focused on STEM education and entrepreneurship training for young students in the local community, empowering them to contribute meaningfully to their communities’ development.