The project is planned to have 120MW capacity, allowing the facility to produce up to 100,000 tonnes of green ammonia per year. The $900,000 (€842,508) purchase was backed by Sudameris bank which provided a competitive commercial mortgage in a bid to show commitment to promote clean energy in Paraguay’s transition to a greener economy.
As part of the prelude towards the Final Investment Decision (FID), Natixis CIB (ATOME’s international finance advisor) sent out a teaser on the Villeta project to infrastructure and green funds and other relevant institutions.
This has increased interest in the facility, including the feature of utilising baseload 24/7 existing power, enabling ATOME to progress to full production of 100,000 tonnes of green ammonia in 2025.
Conor McEnroy, Chairman of Sudameris Bank, said, “Paraguay is a leader in green energy in America with 100% of electricity generated from renewables.
“The installation of ATOME’s large-scale plant benefitting from the country’s baseload green hydro-power is perfectly aligned with Paraguay’s declared sustainable policies for industry, transportation and farming.”
Olivier Mussat, CEO of ATOME, claimed the company is continuing to deliver on its milestones to full investment decision (FID).
The next step towards the FID, projected for the second quarter of 2023, is the appointment of NexantECA to provide an independent market view of global grey and green ammonia market.
NexantECA is a leader in the provision of market dynamics and pricing data in both established and emerging energy transition markets such as green ammonia.
The study will provide key data for ATOME’s ammonia marketing strategy as it seeks to maximise the value for the production from Villeta.
Mais Haddadin, Global Sustainability Lead of NexantECA, said, “Green ammonia will play a key role in the decarbonisation pathway of numerous industries assisting in meeting the climate neutrality commitments.
“NexantECA is committed to supporting ATOME and the industry transition towards carbon neutrality and more sustainable pathways with lower GHG emissions, clean energy and the circular economy.”
Due to being fully funded to the FID of the Villeta project, ATOME is optimistic that it will be able to fund the facility without need of direct funding.
This allows the company to focus on other opportunities in green hydrogen and ammonia production.
Following ATOME’s announcement in December last year, the front-end engineering design (FEED) study is progressing with AECOM (project manager).
Read more: ATOME doubles Paraguayan green hydrogen and ammonia production plans to 120MW
Read more: ATOME signs 60MW Power Purchase Agreement for hydrogen in Paraguay
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