The International Finance Corporation (IFC), part of the World Bank Group, has signed debt financing agreements for the Villeta Green Fertilizer Project, developed by ATOME PLC, which will establish one of the world’s first commercial-scale clean hydrogen-based fertilizer plants in Paraguay. The project aims to transform the country’s abundant renewable energy into higher value-added industrial production, while creating jobs, strengthening fertilizer and food supply resilience, and advancing industrial diversification.
The project is expected to generate over 1,265 direct jobs during construction and nearly 200 skilled and semi-skilled positions during operations. Indirect employment is also anticipated in transportation, logistics, engineering services, local supply chains, and SMEs. Domestic fertilizer production is expected to further boost the agricultural value chain, while targeted efforts to increase women’s participation in the workforce aim to promote inclusive hiring and vocational training.
Using Paraguay’s renewable hydropower, the Villeta plant will produce low-carbon Calcium Ammonium Nitrate (CAN) fertilizer through electrolysis, reducing reliance on imported fossil fuel-based nitrogen fertilizers in the Mercosur region. This will help secure a more sustainable and resilient agricultural supply chain for the region.
IFC highlighted the project’s dual benefits for sustainable development and employment. Manuel Reyes Retana, IFC’s Division Director for Brazil, Argentina, Uruguay, and Paraguay, emphasized the initiative’s role in creating jobs and skills development, while Olivier Mussat, CEO of ATOME PLC, noted the project’s importance for global food security and profitable, sustainable fertilizer production. Kristin Lang from the Green Climate Fund (GCF) described it as a paradigm shift for green fertilizer investment and industrial decarbonization in emerging markets.
As Paraguay’s first large-scale clean hydrogen-to-fertilizer facility, the project demonstrates the commercial viability of using renewable energy for sustainable industrial outputs. It is expected to inspire similar initiatives across Latin America and globally, promoting the adoption of low-carbon fertilizer production pathways.
IFC played a critical risk-absorbing role in the project, providing US$25 million in mezzanine debt and mobilizing a US$50 million concessional loan from GCF. This blended finance structure improved the risk-return profile, attracted private sector investment, and ensured bankability for this first-of-its-kind green hydrogen project. IFC also acted as Sustainable Finance Coordinator for Latin America’s first green loan for a commercial-scale green fertilizer plant.
ATOME PLC, listed on AIM, specializes in low-carbon fertilizer projects across South and Central America. The Villeta project is central to reducing the region’s dependence on imported fossil fuel-based fertilizer, contributing to food security and providing sustainable, efficient agricultural inputs. ATOME has also expanded into renewable power generation and battery infrastructure through its ATOME POWER division.
IFC, the largest global development institution focused on the private sector in emerging markets, works in over 100 countries to create market opportunities and mobilize private capital for sustainable development. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions, advancing private sector solutions for poverty reduction and climate sustainability.
