IFC approves up to $100m for Atome’s Villeta project
Atome said on Thursday that the International Finance Corporation (IFC), the private investment arm of the World Bank Group, had approved up to $100m in debt and equity financing for its flagship Villeta low-carbon fertiliser project in Paraguay.
The AIM-traded firm described the approval as a major milestone in its progress towards finalising the full $630m funding package for the 260,000-tonne-per-year facility.
It said the IFC is part of a consortium of international lenders supporting the project, which also includes the European Investment Bank, IDB Invest, FMO – the Dutch development bank – and the Green Climate Fund.
The board said the financing underscored growing institutional backing for large-scale clean-energy and sustainable agriculture projects in Latin America.
Atome chief executive Olivier Mussat, said:
The IFC board’s approval of up to $100m of debt and equity financing for Villeta is another strong endorsement of the project’s maturity, bankability, and positive development impact,
“This is another important step towards finalising the $630m project funding as we remain focused on achieving FID before the end of the year.”
The company said the Villeta project was designed to produce low-carbon fertiliser using renewable energy sources.
At 1339 GMT, Atome shares were down 5.89% at 62.11p.
Reporting by Josh White for Sharecast.com.
READ the latest news shaping the hydrogen market at Hydrogen Central
IFC approves up to $100m for Atome’s Villeta project, source
