ATOME Energy PLC, a leading international developer of green fertilizer projects, has taken a significant step forward in the energy transition era by officially launching ATOME POWER, its new renewable energy generation and infrastructure division. This initiative aims to provide a stable power supply for ATOME Energy's green fertilizer projects in Paraguay, while also securing an independent revenue stream by offering long-term power solutions to third-party users.
ATOME POWER's Inaugural Project: A 400MW Solar Power Plant
ATOME POWER's first key project is the construction of a 400MW solar power plant to be located near ATOME Energy's green fertilizer production facility in Villeta, Paraguay. This power plant will include large-scale battery storage infrastructure to maximize power stability. ATOME Energy has already secured 685 hectares (approximately 2,070,000 pyeong) of land for this project, with feasibility studies currently underway.
The construction of this solar power plant is expected to establish ATOME Energy as a significant Independent Power Producer (IPP) in Paraguay. This will diversify Paraguay's renewable energy sources and lay the groundwork for providing electricity supply services to third-party users in the long term. While Paraguay is known as an eco-friendly country, generating approximately 99% of its total electricity from renewable sources, primarily hydropower, securing diverse renewable energy sources like solar power will further enhance power supply stability and contribute to flexibly responding to future changes in energy demand.
Joint Venture and Financing Plan
ATOME POWER will operate as an 80:20 joint venture between ATOME Energy and Fondo de Inversion en Innovacion de Paraguay S.A. (FIIP), a Paraguayan innovation investment fund. This project plans to be funded through internal resources and/or separately at the project level, without requiring equity investment from the group. This offers the advantage of minimizing ATOME Energy's financial burden while pursuing business expansion.
Olivier Mussat, CEO of ATOME Energy, stated, "We believe ATOME POWER will offer exceptional potential value-accretive revenue opportunities for our shareholders." He added, "The new power business plans to leverage ATOME Energy’s existing relationships to accelerate project deployment and create expansion opportunities within Paraguay and across the region." This demonstrates ATOME Energy's intent to quickly establish its new business based on its strong existing network and further expand its operations across the entire South American region.
Villeta Project Progressing Smoothly
Meanwhile, ATOME Energy's core business, the Villeta green fertilizer project, is also proceeding smoothly. This project anticipates the finalization of definitive offtake agreements and the formation of an equity club by the end of June. The Villeta project has secured a stable power supply through a 145MW renewable energy purchase agreement and will be constructed on a 30-hectare (approximately 90,000 pyeong) duty-free zone site. Upon completion, this facility is expected to become the world's largest dedicated green fertilizer production facility.
ATOME Energy is pursuing a multi-faceted growth strategy that involves enhancing sustainability in the agricultural sector through green hydrogen-based fertilizer production, while simultaneously strengthening energy independence and creating new revenue streams through its own renewable energy generation business. These moves are seen as important steps towards increasing corporate competitiveness and fostering a sustainable future amidst the global energy transition.
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