ATOME Energy (ATOM) , a green hydrogen company with projects in Latin America and Europe, has announced that its 145MW Villeta Project in Paraguay has been granted Free-Trade Zone (FTZ) status through a presidential decree.
This marks only the sixth FTZ granted by Paraguay and brings significant financial benefits to the project, including exemptions on municipal, VAT, and corporate income taxes.
The move underscores the Paraguay Government's strong support for ATOME's Villeta Project, and is well-timed given the country's credit ceiling has recently been upgraded to BBB- in the latest Fitch Ratings report.
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Atome Energy is a UK-based company producing green hydrogen and green ammonia. With 445-megawatt projects in Paraguay, and projects in Iceland and Central America, the company focuses on decarbonising the agricultural industry through its green fertiliser product.
Atome recently expanded its Villeta project in Paraguay to include green fertiliser production, with the aim of being the first to produce an industrial-scale premium value green fertiliser. Atome also aims to help decarbonise industries such as maritime shipping and heavy road transport through its green hydrogen production.
Today’s news demonstrates strong government backing for ATOME's Villeta Project. The swift approval of the Free-Trade Zone and Environmental License, crucial for project financing, also showcases Paraguay's stable political and economic environment. With a robust economy, low inflation (3% as of October 2023), and a Fitch Ratings outlook upgrade to BBB-, Paraguay positions itself as a favorable environment for ATOME's green fertiliser production ambitions.
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