CHINT Solar/Astronergy Announces New Contract With Atlas Renewable Energy Supplying 122mw of BI-Facial Modules

The bi-facial PV modules will each generate over 400Wp, increasing efficiency and performance in Atlas Renewable Energy's solar plant in Chile

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CHINT

Dec 13, 2019, 08:00 ET

HANGZHOU, China, Dec. 13, 2019 /PRNewswire/ -- CHINT Solar/Astronergy, the leading PV module supplier, announced a new contract with Latam's solar energy giant, Atlas Renewable Energy, to supply 122MW of bi-facial modules to one of their projects in Chile by 2020.

The increasing energy demand in Latin America, mainly in highly industrialized countries such as Chile, the profitability that solar energy represents thanks to its low cost and the higher performance that the bifacial modules provide will catalyze a major shift in the already booming renewable energy sector in the region.

CHINT Solar/Astronergy's bi-facial PV modules will generate over 400Wp per panel, which will allow Atlas Renewable Energy to significantly increase its project's power generation capacity and efficiency compared to the generation provided by standard solar panels.

"The deal is a great milestone for CHINT and Atlas Renewable Energy. Atlas is a key customer to CHINT as it has an excellent track record and proven expertise in driving solar project development and innovation and has the second largest solar asset base in Latin America. We will put more effort in the R&D of solar cells and modules to provide better products and services to our partners," said Dr. Lu Chuan, CEO of CHINT Solar.

"We're excited to deploy CHINT Solar's bi-facial panels in one of our projects, bringing enhanced solar PV technology to Chile and Latin America," stated Carlos Barrera, CEO and co-founder of Atlas Renewable Energy. This decision goes hand in hand with Atlas Renewable Energy's strong competitive advantage in technology innovation, as well as our interest to partner with great companies in our industry. We actively seek to stay ahead of the curve, as we continue our mission to deliver low-cost, clean energy to Latin America."

About CHINT Solar/Astronergy

CHINT Solar/Astronergy was established in 2006 and is a global leader in the solar industry with more than 4,000 employees. CHINT is specialized in PV cell and module manufacturing with a production capacity of 4.2 GWp in different factories around the world.

The firm's technology leadership, financial health, diversity and risk management got wide recognition from advisors, financial institutions and banks. Bloomberg lists Astronergy as Tier 1 module supplier for consecutive years and Photon Consulting has just recently ranked Astronergy as #1 player in the solar industry.

Astronergy's Parent Company and major shareholder, The Chint Group, is a market leader in Low-Voltage products and has a strong market position in Power Transmission & Distribution sector. Founded in 1984, the Chint Group with its 30,000+ employees has provided millions of customers in 100 countries worldwide with reliable and high quality solutions for over 35 years.

About Atlas Renewable Energy

Atlas Renewable Energy is a renewable energy generation company that develops, builds, and operates renewable energy projects with long-term energy contracts across Latin America. The current company portfolio is 1.5GW of contracted projects in development, construction, or operational stages, and aims to grow an additional 1.5GW over the next few years.

Launched in early 2017, Atlas Renewable Energy includes an experienced team with the longest track record in the solar energy industry in Latin America. The company is recognized by its high standards in development, construction, and operation of large-scale projects.

Atlas Renewable Energy is part of the Energy Fund IV, founded by Actis, a leading private equity investor in the energy sector of emerging markets. Actis has allocated more than $600 million of equity in Atlas Renewable Energy to invest in long-term renewable energy contracted projects.

Atlas Renewable Energy's growth is focused on the main emerging markets and economies of Latin America, using its proven development, commercialization, and structuring know-how to bring clean energy to the region. By actively engaging with the community and stakeholders at the center of its project strategy, the company works every day to provide the world with a cleaner future.

To know more about Atlas Renewable Energy, visit: http://www.atlasrenewableenergy.com/

SOURCE CHINT