<div id="readability-page-1"><div>By Nic StoneAtlas Renewable Energy and ArcelorMittal have inaugurated the R$895m (US$164m) 315MW phase of the Luiz Carlos Solar Park in Minas Gerais three months ahead of schedule. During commercial operation it will be owned by steel company ArcelorMittal, which will use the power for its facilities in Brazil. It is the company’s first solar park in the country. Atlas Renewable Energy raised a R$1.47bn project finance package arranged by Itau BBA backing this phase of the overall 787MW Luiz Carlos solar portfolio. The deal included an R$750m incentivised senior green debenture and a R$720m senior commercial note. The pari passu bonds reimbursed expenses at nine special purpose vehicles associated with nine sub-projects at the site. </div></div>

Atlas Renewable Energy and ArcelorMittal have inaugurated a 315MW phase of the Luiz Carlos Solar Park in Minas Gerais, Brazil, three months ahead of schedule. The project, costing R$895m (US$164m), will be owned by ArcelorMittal for its Brazilian facilities. Atlas raised R$1.47bn in project finance, including R$750m in senior green debentures and R$720m in senior commercial notes.

Brazil – Atlas/ArcelorMittal solar online