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British company Atome is seeking an agreement with Paraguay's state electricity utility ANDE to resolve the impasse over the energy contract and unlock its fertilizer plant in Villeta, a project financed and supported by international institutions that promises to generate thousands of jobs.
andeatomevilletaTrading in shares of Atome PLC was suspended on the London Stock Exchange due to a delay in publishing its financial statements, caused by ongoing negotiations with Paraguay's state electricity utility, ANDE, over the power contract for its green fertilizer project in Villeta.
atomeandevilletaThe Atome project, which plans hydrogen production in Paraguay using energy subsidized by the National Electricity Administration (ANDE, Paraguay's state utility), could cost public coffers $1.6 billion over 15 years, reduce jobs, and threaten the country's energy sovereignty, according to criticisms by energy expert Ricardo Canese.
atomericardo-caneseandeANDE has formally rejected Atome PLC's request for a preferential electricity tariff in Paraguay, after a technical and financial analysis concluded that it was not feasible to grant the fixed dollarized tariff of US$30 per MWh sought by the British company.
atomeandeadministracion-nacional-de-electricidadfelix-sosaAn agreement to supply electricity to Atome's fertilizer plant in Villeta at a preferential rate of $30 per MWh could result in a $750 million loss for Paraguay and ANDE over 15 years.
andeatomeitaipuAtome PLC has finalized a $665 million investment to build a green fertilizer plant in Villeta, Paraguay, contingent upon the approval of a preferential electricity tariff by ANDE to ensure the project's financial viability.
andeatomevilletaitaipuThe Paraguayan government defended the preferential rate of US$30 per MWh granted to the company Atome for green fertilizer production, arguing that the figure is justified by operational efficiency and low transmission losses, while the ANDE workers' union and experts criticized the measure and pointed to regulatory weaknesses in the electricity sector.
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