Research on ATOME PLC (ATOM:LON) from Longspur Clean Energy
The signing of the definitive debt financing agreements for Villeta is a major milestone, effectively leaving the equity agreements as the final outstanding item before construction can commence. Atome hopes to conclude these within 30 days and they will now include the provision of services from the company to the project providing useful income. Against the total project cost of US$650m the gearing ratio of 64% is slightly above our forecast 60% which we see as reflecting the strong bankability of the project.