Boa Sorte

Boa Sorte was developed jointly by Hydro Rein and Atlas Renewable Energy, an international renewable energy company with a solid track record in Latin America. Construction began in October 2022, and the plant was completed and put in commercial operations by March 2024. 

The Boa Sorte development was delivered on time and on budget. It also illustrates Hydro Rein’s commitment to ambitious sustainability standards such as International Finance Corporation Performance Standards (IFC PS) and Equator Principles. 

A 20-year power purchase agreement (PPA) with Albras secures annual supply of 815 GWh to the aluminium smelter from 2025 to 2044. The PPA covers 12 percent of its annual power consumption. 

The financing of the project was innovative in Latin America’s renewables market because it was the first loan from the Brazilian Development Bank (BNDES) to a renewable energy project to be denominated in US dollars. This loan sat a new precedent for financing large scale renewable energy projects to decarbonize industry in Brazil. 

The owners of Boa Sorte are Hydro Rein, Atlas Renewable Energy and Albras.