14th Nov 2022 17:32
(Alliance News) - Atome Energy PLC on Monday said it expects to start production in its world-scale Villeta facility in Paraguay at the start of 2025.
The company has held a meeting last week with the presidents of Germany and Paraguay to discuss the production of green hydrogen at the facility. The parties also discussed the need of Germany to import such fuel in the future, as well as the possibility of establishing a joint mechanism and roadmap for the promotion of green hydrogen.
Germany, separately, reported that it is now setting aside EUR4.00 billion to import green hydrogen produced outside of the EU zone.
The president of Paraguay reportedly highlighted the availability of green hydrogen in Paraguay and the prospects of Paraguay becoming a strategic partner with Germany.
"The reported discussions between the presidents of Germany and Paraguay reinforces Atome's stated ambition to be at the forefront of production of green energy at scale and being able to deliver such energy from Paraguay to Europe well in advance of other major projects," Olivier Mussat, chief executive of Atome said.
He added: "The EU is already the largest trading partner of the South America Mercosur trading countries of which Paraguay is a member and Atome is ideally situated to play a major role in the supply of cost-effective green energy and fertilisers not only in the Mercosur region but as part of the growing commercial relations between these two important trading blocks."
Shares in Atome Energy closed down 3.4% to 85.00 pence in London on Monday evening.
By Jaskeet Briah; [email protected]
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