Convert, an Italy-headquartered solar tracker specialist that is the world’s fourth largest according to IHS Markit, has signed a lucrative supply deal with Atlas Renewable Energy to deliver its tracker solutions to two large-scale Brazilian solar projects.
The $35 million agreement will see Convert ship 220 MW of its TRJ Tracking solution to construction sites in Brazil’s Sao Pedro and Juazeiro regions. The construction of the solar farms is expected to begin in the last quarter of the year, with Atlas Renewable Energy – a clean power developer backed by Actis – at the helm.
Convert’s Brazilian subsidiary Convert do Brasil Energia Renovavel Itda has worked with the management team at Atlas to develop a deeper understanding of how best to tailor its TRJ trackers to the environment and terrain of Brazil.
This deal marks the beginning of an 800 MW portfolio of tracker supply agreement signed by Convert Italia Group and scheduled largely for delivery in 2018. The developer has already begun producing its TRJ tracker at its plant in Belo Horizonte, which will supply both the Brazilian and Argentinian solar markets.
Atlas Renewable Energy came into being in March this year as a solar generation platform created specifically for the Latin American market. Launched by Actis – an investor in growth markets – the platform’s chief goal is to complete and manage more than 1.5 GW of solar PV assets in the region.
This capacity was acquired by Actis from SunEdison, the U.S. renewable energy developer that went bankrupt in 2016 with masses of global gigawatts of finished and incomplete solar PV projects under its belt.