Atlas Renewable Energy, a solar and wind project developer, has secured COP453.95 billion (~$121 million) in financing for the 99.9 MW El Campano solar project in Córdoba, Colombia, achieving financial close and enabling construction.

The financing package is structured under a project finance framework, combining private equity with long-term project finance debt. It includes a loan of COP292.1 billion (~$78 million) and a commercial credit of COP58.38 billion (~$16 million).

Financiera de Desarrollo Nacional and BBVA Corporate & Investment Banking acted as lenders and issuers of letters of credit for the transaction, with BBVA also providing hedging solutions.

The El Campano project was awarded under Colombia’s 2024 Reliability Charge Auction and is being developed in partnership between Atlas Renewable Energy and ISAGEN. The project is supported by a long-term power purchase agreement. It is expected to begin commercial operations in the third quarter of 2027.

“The financial closing of El Campano Solar reflects our continued focus on executing strategic power generation projects in Colombia and delivering reliable, high-quality energy solutions for our customers,” said Rubén Borja, Country Manager for Atlas Renewable Energy in Colombia. “The continued support of leading financial institutions allows us to move forward with confidence as we advance into construction and contribute to the development of Colombia’s energy sector.”

Currently, the project employs 228 people, of whom over 130 are local workers.

In February 2026, Atlas closed approximately $3 billion in corporate refinancing, its largest to date for clean energy in Latin America.

Additionally, Atlas secured $510 million in financing for the construction and development of the Estepa Project, a hybrid project consisting of a 215 MW solar project and two battery storage projects with a 418 MW capacity in Chile.

Large-scale solar project funding increased by 37% in 2025 compared with the funding raised in 2024, according to Mercom’s recently released Annual and Q4 2025 Solar Funding and M&A report.