Nucera’s IPO and Kuqa’s start-ups have underlined the growing value in green energy with a positive read-through for ATOME Energy, says broker SP Angel.
Thyssenkrupp Nucera, a joint venture between Germany's Thyssenkrupp and Italy's De Nora industrial groups, raised €606mln in Germany’s largest float so far this year.
Atome should be has a 120MW PPA with ANDE for the supply of renewable power already being generated through Paraguay’s existing hydroelectric power resources, plus an additional fertiliser supply credit.
A final investment decision is expected in the fourth quarter of this year and ahead of that SP Angel has reiterated its buy rating and 190p/share target price.