The  EIB has  approved up to $135 million of senior debt finance for ATOME’s Villeta Project in Paraguay. This follows the Green Climate Fund approval earlier this month The board of ATOME are targeting Final Investment Decision by end September 2025.

Earlier this year, the board has signed a definitive $465 million EPC (engineering, procurement, and construction) contract with Swiss engineering company Casale for its 145MW green hydrogen-based fertiliser project in Paraguay. Under the fixed-price, lump-sum contract, Casale will build the facility in Villeta. Once fully operational, the plant will produce 260,000 tonnes of green calcium ammonium nitrate (CAN) annually.

On today’s nnouncement, Olivier Mussat, CEO, commented:

“The European Investment Bank board’s in-principle approval of US$135 million senior debt finance is another important milestone in the Villeta Project’s maturity, credibility and genuine climate objectives.

“EIB is one of the largest providers of climate finance in the world and we are pleased to have EIB as one of the key supporters of this impactful, first-of-a-kind project.

The equity component of the project is coming through with target closing and FID remaining end of September.”