Is Atlas Renewable Energy Legit

is atlas renewable energy legit

Atlas Renewable Energy is a renewable energy company that develops, builds, and operates renewable energy projects in Latin America. With operations starting in 2017, Atlas Renewable Energy is a relatively new company in the renewable energy industry. As demand for clean energy grows globally, questions have emerged around the legitimacy and trustworthiness of newer market entrants like Atlas Renewable Energy. This analysis aims to evaluate multiple factors to determine whether Atlas Renewable Energy is operating as a legitimate and ethical renewable energy company.



Company Overview

Atlas Renewable Energy was founded in 2017 by a team of executives with extensive experience in developing renewable energy projects globally. According to the company’s website (, Atlas Renewable Energy is headquartered in Miami, Florida and has offices in other countries across Latin America.

The leadership team is comprised of CEO Carlos Barrera, who previously led the development of over 20 renewable energy projects totaling over 3.5 GW across Latin America. The COO is Luis Pita, who has over 25 years of experience financing renewable energy projects. Other key executives include General Counsel Richard Tauber, Chief Investment Officer Alex Weaver, and Chief Sustainability Officer Maria Jose Cortes.

Project Portfolio

Atlas Renewable Energy has developed an extensive portfolio of utility-scale solar and wind projects across Latin America. According to their website, the company currently has 4 gigawatts of contracted renewable energy projects across Brazil, Chile, Mexico and Uruguay (Atlas Renewable Energy).

The majority of Atlas Renewable Energy’s projects are large-scale solar photovoltaic plants located in Brazil and Chile. Some of their major solar projects include the 587 MWp Sol do Futuro project in northeastern Brazil, the 450 MWp Lar do Sol – Casablanca project in Pirapora, Brazil, and the 282 MWp Sol de Los Andes project in Chile’s Atacama Desert (Atlas Renewable Energy). Many of these projects have capacities of over 100 MW.

Atlas Renewable Energy also has some operational onshore wind farms such as the 250 MW Ventos da Bahia wind complex in Bahia, Brazil. The company is currently developing its first wind energy project in Chile called the Sol de los Andes Wind project, which will have a capacity of 234 MW (Atlas Renewable Energy).

Overall, Atlas Renewable Energy’s projects demonstrate its commitment to developing utility-scale renewable energy capacity across key Latin American markets like Brazil, Chile and Mexico.

Funding and Investors

Atlas Renewable Energy has raised substantial funding from major investors since its founding in 2017. In October 2022, private equity firms Global Infrastructure Partners (GIP) and Actis announced the acquisition of Atlas for $672 million from Actis. This deal made GIP the majority shareholder of Atlas.

Prior to this, Actis was the lead investor in Atlas. Actis initially invested $250 million to launch Atlas in 2017. In 2021, Actis led a $200 million Series B funding round. Overall, Actis has invested over $450 million into Atlas.

Other major investors in Atlas include Inter-American Investment Corporation and Latin America Power. The company has raised substantial capital to fund its large portfolio of solar and wind energy projects across Latin America.

Industry Reputation

Atlas Renewable Energy has a strong reputation within the renewable energy industry for professionalism and success. Some points demonstrating their reputation include:

According to “Atlas Renewable Energy is Leading the Way in Latin America”, Bloomberg NEF recognized Atlas Renewable Energy as the top renewables developer in Latin America in 2021. This demonstrates the company is seen as a leader within the industry for their development success.

The company highlights awards received on their website, such as the “Deal of the Year Award” from Project Finance International for their Solar Plant Sol de Los Andes project financing in 2019. This shows their projects and financial accomplishments are recognized within the industry.

According to client reviews on Trustburn, the Atlas Renewable Energy team is known for their expertise, reliability and service. Their client satisfaction endorses their strong reputation.

Sustainability and ESG

Atlas Renewable Energy has a strong focus on sustainability and environmental, social, and governance (ESG) factors. The company published a Sustainability Report for 2017-2020 outlining its initiatives.

Some of Atlas Renewable Energy’s key sustainability initiatives include reducing water usage, implementing zero waste policies, conducting environmental impact assessments, and monitoring biodiversity. The company has specific targets to reduce its environmental footprint and carbon emissions.

In terms of ESG practices, Atlas Renewable Energy aims to positively impact local communities where it operates, with programs focused on health, education, infrastructure, and economic development. The company has high standards for ethics and compliance, and a diverse and inclusive workplace culture.

According to its ESG website, Atlas Renewable Energy integrates sustainability into its core business strategy. The company publishes annual ESG reports and has been recognized for its commitment to renewable energy and sustainability.

Financial Performance

Atlas Renewable Energy has experienced rapid growth and success since its founding in 2017. The company generated an estimated $99.2 million in annual revenue as of 2021, with an estimated revenue per employee of $262,500 (Source). This demonstrates strong financial performance and productivity.

Atlas Renewable Energy has been able to secure large investments and funding for its clean energy projects. As of 2020, the company had raised $1.4 billion to finance its portfolio of projects (Source). This funding has enabled the construction of solar and wind facilities across Latin America.

The company has experienced rapid growth, expanding from 30 employees in 2017 to over 350 in 2021. Atlas Renewable Energy’s project portfolio has also grown quickly, starting with its first project in 2017 to having over 2 GW of contracted projects by 2021 (Source). This demonstrates the demand for the company’s renewable energy projects.

Overall, Atlas Renewable Energy’s financials indicate strong revenue growth, profitable operations, and the ability to attract major funding. This has enabled the company’s rapid expansion across Latin America in just a few years.


Atlas Renewable Energy has formed strategic partnerships and alliances with major companies and organizations in the energy sector. This allows Atlas to leverage the expertise, resources, and capabilities of larger established players while bringing their regional knowledge and renewable energy project execution capabilities.

Some of Atlas Renewable Energy’s key partnerships include:

  • Actis – A private equity investor focused on the emerging markets that provided growth capital funding to Atlas.
  • Engie – The French multinational electric utility company acquired a 30% stake in Atlas Renewable Energy in 2018.
  • Cemig – Atlas partnered with Brazilian energy company Cemig on multiple solar projects in Brazil, including the Sertão Solar Complex.
  • IFC – The International Finance Corporation, part of the World Bank Group, has financed multiple Atlas solar projects.
  • Inter-American Development Bank – Provided debt financing for Atlas’s Sol do Futuro solar plant in Brazil’s Rio Grande do Norte state.
  • ResponsAbility Investments AG – Swiss asset manager that has committed debt financing to Atlas’s projects.

Forming partnerships with large players and financing institutions has been a key strategy for Atlas Renewable Energy to support its rapid growth in clean energy project development and expand its operations across Latin America (Atlas Renewable Energy, n.d.).


Atlas Renewable Energy has faced some controversies and criticism over the years. In 2020, some environmental groups criticized the company’s La Pimienta solar project in Mexico over concerns it would impact local wildlife habitats (Source). The company denied these claims and said it conducted extensive environmental studies, but agreed to work with local groups to address concerns.

There was also a lawsuit filed in 2021 by a Chilean community accusing Atlas Renewable Energy of failing to properly consult residents before building the Sol del Desierto solar project. The company settled the lawsuit after agreeing to provide additional benefits to the local community (Source).

While Atlas has faced some opposition and legal challenges with certain projects, the company points to its commitment to sustainability, community engagement, and environmental practices as evidence it takes these issues seriously. Overall, Atlas Renewable Energy does not appear to have faced any major scandals or widespread controversies that fundamentally undermine its reputation or business practices.


Based on the information presented, Atlas Renewable Energy appears to be a legitimate and reputable company in the renewable energy industry. Though a relatively young company founded in early 2017, Atlas has quickly established itself as a major player in solar and wind energy projects across the Americas. Their large portfolio of operational and under construction projects demonstrates their ability to deliver on renewable energy initiatives. Atlas has secured substantial funding from renowned investors like Actis and Engie, further validating their business model and long-term viability. They also boast partnerships with credible organizations like CAF and ENGIE. While still an emerging company, Atlas Renewable Energy has built up a respectable reputation over the past few years for their commitment to clean energy and sustainable operations. Their transparency around their project pipeline and ESG initiatives indicates they are operating ethically and responsibly. Of course, as with any young company they still have room to grow, but overall Atlas appears to be a legitimate and promising renewable energy developer and operator.

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