MUFG announced a $3 billion green refinancing for Atlas Renewable Energy, the largest independent power producer in Latin America, a deal that was completed on March 4, 2026.
The refinancing is structured through operating‑company and holding‑company term‑loan tranches and letter‑of‑credit facilities, providing Atlas with a five‑year green loan that will fund solar and battery‑storage projects in Chile, Brazil and Mexico.
MUFG served as the Initial Joint Lead Arranger, Joint Bookrunner, Green Loan Coordinator and Hedge Provider. It is the first transaction of its kind in Latin America in both scale and geographic reach, underscoring MUFG’s expertise in cross‑border green‑finance structuring and its commitment to sustainable infrastructure, part of its goal to deliver JPY100 trillion in sustainable finance by 2030.
Atlas CEO Carlos Barrera said, "Achieving a refinancing of this magnitude represents a strong vote of confidence from global financial institutions in our brand and long‑term strategy in the region," adding, "This refinancing also signals the company's financial maturity and positions us to support the next phase of growth." The deal replaces Atlas’s existing debt, lowers its cost of capital, extends maturities and improves its balance sheet and cash‑flow profile. Atlas, backed by Global Infrastructure Partners (now part of BlackRock), manages an asset base of over 8.4 GW, with a significant portion operational and in development or construction.
MUFG’s own financial context shows a net profit margin of 22.8% versus 28.7% the previous year, and a negative earnings growth of 25.2% last year, yet the bank is guiding for a consolidated net income of ¥2.1 trillion for fiscal year 2026. This demonstrates MUFG’s capacity to support large green projects while maintaining a solid financial footing.
The refinancing comes at a time when Latin America’s renewable‑energy sector is expanding rapidly, with solar power leading due to favorable irradiation, falling technology costs and supportive policies. Challenges such as curtailment in Brazil are offset by strong demand in Chile and Mexico, making the capital injection from MUFG a key enabler for the region’s decarbonization ambitions.
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