US-based Atlas Renewable Energy has signed a long-term financial agreement with IDB Invest and Bancolombia for a senior secured loan totaling COP 473.77 billion (~$113 million). This loan will fund the development, construction, and operation of the 201 MW Shangri-La PV power plant in Colombia’s Tolima department. The project will contribute 160 MW(AC) of clean energy to Colombia’s grid, generating 403.7 GWh annually, enough to power approximately 214,000 homes. It will also help reduce CO2 emissions by 162,000 tons each year. This is Atlas Renewable Energy’s first venture in Colombia and the largest project financed by IDB Invest in the country.
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