The agreement signed between the two institutions aims at large-scale production of green hydrogen and ammonia from clean energy sources. The company intends that production will be ramped up from an initial 50 MW unit by the end of 2024, with plans for a gradual increase in production up to 250MW. ATOME Energy will simultaneously implement the same project in Iceland, where they will also have access to clean energy sources.
From Paraguay to the world
The announcement made by ATOME Energy PLC highlights the virtues of Paraguay as a location for its production centre. Easy access to clean energy from hydroelectric dams, as well as its participation in Mercosur, make it an ideal location for such a large-scale project.
The production centre will be located one kilometre from the Itaipu hydroelectric dam, with ample access to the power provided by the dam and easy access to the river for easy transport. With markets interested in these products, both within Paraguay and Mercosur, it is possible to project exports to the rest of the world in the future.
The project is aligned, among others, to Paraguay's Green Hydrogen Roadmap and decarbonization goals established in its National Development Plan 2030, as well as the objectives in the country's Nationally Determined Contributions (NDC) within the framework of the Paris Accord..
Green energy
Green Hydrogen (and Ammonia) has been described as the "Swiss Army Knife" of energy, as they are important alternatives for companies trying to make the transition to net zero emissions.
Ambassador Ramin Navai commented:
We are very excited about this news. The future production of green hydrogen and ammonia would be a great bilateral achievement, with the UK providing its expertise, and Paraguay providing its clean energy from Itaipu.
We are going to produce green energy with green energy! That's the way forward to a commercially competitive future, in an environmentally friendly way.
Visit the Department of International Trade page to learn more about doing business in Paraguay
