Atlas Renewable Energy has nearly 3 GW of capacity still out of operation in Latin America , according to an update by Guillaume Boizet , the company's Structured Finance Manager, during the "It Had to Be Said and It Was Said" streaming event on Energía Estratégica .
“If we look at Atlas’ raw data, today there are about 10 gigawatts in the portfolio, of which about 7 gigawatts are already operating, mostly concentrated in solar assets,” he specified.
The difference between the two figures allows us to understand the volume that still needs to be incorporated into the regional platform, at a stage where storage is beginning to play a more prominent role in new developments.
Boizet did not break down the approximately 3 GW difference by country, project, or technology. However, he noted that Atlas maintains development offices in Chile, Brazil, Mexico, and Colombia , and anticipated a greater role for batteries in the projects the company is analyzing.
Watch the full stream: https://www.youtube.com/watch?v=awGqfFASj34
“Now we are seeing many developments of solar projects with storage technology,” he said.
Atlas' expansion will also have a commercial front during the remainder of 2026, with the search for new contracts to accompany the growth of its regional platform.
“We have a very customer-focused approach, so our goal for the rest of the year is to seek more contracted energy with mining clients, through the public tenders available for distribution companies, in the case of Chile and also in our other regions,” Boizet said.
Chile is the focus of one of the main fronts with BESS
Chile provides insight into part of this technological evolution. Atlas reported in early August that it has a portfolio of nearly 2,000 MW of storage projects in the country . This figure encompasses various developments and was not presented by Boizet as a breakdown of the approximately 3 GW of regional capacity that is not yet operational.
Among the projects progressing is Estepa I & II , which combines 215 MW of solar generation with 418 MW of four-hour BESS (Basic Energy Storage System) . The project secured USD 510 million in financing and is scheduled to begin commercial operation by the end of 2026.
In addition, there is Copiapó , a hybrid system comprised of 357 MWp photovoltaics and 320 MW of storage for four hours , with an estimated generation of approximately 750 GWh annually. Atlas secured financing of up to USD 475 million for the project.
The company also already has operational experience through BESS del Desierto , in Antofagasta, which has 200 MW of power and 800 MWh of storage .
The greater weight of the batteries also reflects the characteristics of Chilean industrial demand. Boizet explained that Atlas works with mining and industrial clients who seek solutions tailored to their consumption patterns, not just annual energy volumes.
“Five years ago, solar assets without storage worked extremely well, and now we see a very strong market shift towards solutions that do provide storage ,” he said.
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Colombia maintains a target of 1 GW and Brazil sustains large-scale projects
Colombia is another market where Atlas is looking to increase its presence. The company aims to reach 1 GW of installed renewable capacity in the coming years .
Its first operational project is Shangri-La , a 201 MWp plant located in Tolima. The next step is El Campano , a 128 MWp plant, which has progressed to the construction phase and is scheduled to begin operations by the end of 2027.
For El Campano, Atlas closed a financing agreement in April for approximately COP 292.1 billion , accompanied by a letter of credit facility of COP 58.38 billion.
Meanwhile, in Brazil , the company maintains large-scale developments linked to industrial consumers.
The Luiz Carlos hydroelectric plant in Minas Gerais is being developed in phases: the first stage is already operational and supplies energy to ArcelorMittal Brasil, while the remaining capacity, contracted with Votorantim Cimentos, is under construction. The plant has a capacity of 876 MW .
It is also part of the Brazilian developments Draco , a 579 MWp solar complex in Minas Gerais, with contracts associated with various corporate consumers.
Boizet added that Atlas also has stakes in hydroelectric and wind power assets in Brazil through its connection with Aliança.
Mexico appears among the markets with the greatest potential
Mexico was one of the markets specifically highlighted by the executive when talking about the opportunities the company sees.
“We see a lot of dynamism in the market in the region, particularly in Mexico , now that thanks to a favorable geopolitical context we see a lot of growth potential,” he said.
Atlas already operates Guajiro, with 129.5 MW, and La Pimienta, with 300 MW , while maintaining a development presence in the country.
The picture painted by Boizet thus leaves Atlas with nearly 10 GW in its regional portfolio, with about 7 GW already operational and a difference of approximately 3 GW that are not yet in operation . The company did not specify how these remaining gigawatts are distributed, although the projects progressing in its main markets show a greater presence of solar solutions with storage in the next stage of growth.
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Strategic Energy will be present at Intersolar
LATAM is going through a key moment for the expansion of renewable energies, driven by new regulatory challenges, the growth of electricity demand and the development of storage.
In this context, Energía Estratégica will be present at two of the leading solar industry events in Latin America: The Smarter E South America, from August 25 to 27 in São Paulo, Brazil, and Intersolar Mexico, from September 1 to 3 in Mexico City . From both events, the publication will provide special coverage with exclusive interviews, regulatory analysis, and the key developments that will shape the future of regional markets.