Atome Energy (Atome) snapped up a 75 acre site for its green hydrogen production facility in Viletta, Paraguay for $900,000.
The plot of land will provide room for expansion and storage, and will act as a delivery point for the project.
This follows its recently signed 60MW power purchase agreement, with Atome entering into a freehold purchase contract.
Completion of the deal is scheduled in four months.
The Villeta facility is the first phase of a projected 400MW capacity project in Paraguay.
The London-listed hydrogen specialist is working in partnership with ANDE, Paraguay’s national electricity producer, to produce green hydrogen and green ammonia via a new substation on the River Paraguay.
It is the largest project in ANDE’s history and consists of 100 per cent renewable power in terms of energy generation.
ATOME is targeting large scale production of green hydrogen and ammonia for the global fertiliser market by 2025.
The new site is adjacent to ANDE’s Villeta substation – reducing the cost of transmission lines.
It is also conveniently situated near the major Villeta port on the River Paraguay, which is only 35km from the capital Asuncion.
Atome are on schedule to make a final investment decision on the Villeta project by the end of 2022.
Olivier Mussat, chief executive of ATOME, said: “As we continue to make progress, the acquisition of the Villeta site is the next step on our critical path to achieve ATOME’s business plan and vision to fast-track our projects by locating near the source of power. Accordingly, we were very pleased to come to an agreement to secure freehold land adjacent to ANDE’s substation, near potential end customers and export facilities.”
Earlier this summer, ATOME named AECOM as its engineer for the project – a US based multi-national Fortune 500 infrastructure consultancy firm.
It will act as ATOME’s representative to oversee and deliver the project.