It has served formal notice of an investment dispute against the Republic of Paraguay over its shovel-ready Villeta green fertiliser project, with independent advisers valuing a potential claim well into nine figures.

SP Angel noted the feasibility study for a 300MW Paraguay solar project is contingent on ATOME first resolving its contested power deal for the flagship Villeta fertiliser plant.

A multilateral development bank's dollar fund will support a feasibility study for Atome Energy's proposed 300MWp solar project in Paraguay.

The company expects to make a further update by the end of August on power purchase issues affecting its Villeta project in Paraguay.

Talks over the Villeta project's power purchase agreement continue, with the Paraguayan government backing the low-carbon fertiliser scheme's success.

Atome Energy is pushing to resolve a dispute with Paraguay's national electricity utility after a presidential decree underpinning its Villeta green hydrogen project was unexpectedly revoked earlier this month.

The recent FID sees ATOME's flagship project advancing, and may be pushing the firm to a re-rating, according to SP Angel.

Sungrow Hydrogen will supply 110MW of alkaline electrolysers for its 260,000 tonne-per-year Villeta low-carbon fertiliser project in Paraguay.

ATOME has issued 41.07m new shares at 60p to raise about £24.64m, the proceeds to be used alongside US$5.8m of the group's own resources to fund a US$31m preferred-share subscription in ATOME Paraguay and for working capital.