Villeta Update
ATOME PLC has provided an update on its Villeta Project in Paraguay, confirming ongoing discussions with counterparties regarding the power purchase agreement, with the Government of Paraguay expressing strong support for the project's success. Key international commercial partners and lenders, including IDB Invest, IFC, the European Investment Bank, FMO, and the Global Climate Fund, remain supportive of the strategic low-carbon fertiliser project, which is expected to significantly boost Paraguay's fertilizer production, create jobs, and support its agricultural sector. ATOME anticipates a further market update in early August unless material developments occur sooner.
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ATOME (AIM: ATOM), provides an update further to the previous announcements regarding the power purchase agreement ("PPA") at the Villeta Project, Paraguay.
ATOME confirms that discussions continue with the relevant counterparties in Paraguay on the specific terms of the PPA with the Government of Paraguay having expressly indicated that it wants to see the Project succeed.
All relevant stakeholders, including the project's international commercial partners and lenders, the latter being IDB Invest - the private sector arm of the Inter-American Development Bank Group consisting of 48 country members, IFC - the private sector arm of the World Bank Group, the European Investment Bank, FMO - the Dutch Development Bank and the Global Climate Fund, managed by the World Bank, continue to be supportive of ATOME and the strategic Villeta Project.
It is generally recognised that the Villeta low-carbon fertiliser project is of major strategic importance to Paraguay which will place the country on the world map of fertiliser production as well as creating thousands of jobs in the process and providing the people of Paraguay with support for its own food supply amidst the country's growing agricultural sector.
Unless there are any material developments in the meantime, ATOME expects to provide a further update to the market in the first part of August.
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