Atome has signed a memorandum of understanding (MOU) with the Itaipu technological park (PTI), the research arm of the massive Itaipu hydroelectric dam on the Brazil-Paraguay border, for the latter country’s proposed 250MW green hydrogen and ammonia plant.
The company stated in a press that it “intends to ramp up production from a 50MW first unit beginning in late 2024 with considerable potential local end markets.”
Atome was founded by President Energy, an upstream operator with activities in Paraguay and Argentina. President, headquartered in London, announced the incorporation of Atome in February.
According to the statement, the facility would be located 1km from the 14GW dam, near to water and with access to transportation, and could export to worldwide markets via Buenos Aires.
“The project is aligned, among others, to Paraguay’s green hydrogen roadmap and decarbonization goals established in its national development plan 2030, as well as the objectives in the country’s nationally determined contributions (NDC) within the framework of the Paris Accord,” the release added. Projected investment was not disclosed.
In July, the government presented its green hydrogen plan.
Additional details will be supplied closer to Atome’s anticipated year-end float on the London Stock Exchange’s Alternative Investment Market.
Iceland is included in the alternative energy company’s development pipeline.