KKR and IGNIS partner to launch platform for green energy solutions
KKR, a global investment firm, and IGNIS, a Spanish renewable group, announced in a press release that they are collaborating on the launch of IGNIS P2X.
The IGNIS P2X is a “new Power-to-X (P2X) platform to develop primarily green hydrogen and ammonia projects for industrial applications in hard-to-abate sectors”, the release mentions.
As part of the agreement, KKR will endow up to €400 million for developing and constructing future projects.
At its launch, the P2X platform KKR and IGNIS will own 50% of each of the platforms.
IGNIS P2X will establish production facilities for green hydrogen, ammonia, e-methanol, e-fuels, and SAF (Sustainable Aviation Fuel), catering to major corporations in industries such as refining, steel, chemicals, fertilizers, and other sectors.
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These projects will also integrate traditional renewable energy sources, primarily wind and solar, to support the hydrogen and ammonia initiatives.
Ryan Miller, Managing Director of KKR’s European Infrastructure team, said, “IGNIS is a leader in renewables in Spain, with an industrial mentality, differentiated P2X pipeline, and experienced management team.”
He added, “We believe this platform will play a critical role in the decarbonisation of heavy industry in Spain and internationally, driven by favourable regulatory tailwinds and its strong industrial integration with blue-chip corporates. We look forward to working with Antonio Sieira, IGNIS CEO, and the management team on this pathway to a greener global economy.”
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