IGNIS launches renewable production project in Spain
By on June 26, 2024
800,000 tons per year in Castellón
Click to learn more. IGNIS will lead development of an 800,000 tons per year renewable ammonia project in Castellón, Spain. Source: IGNIS.
IGNIS has signed a development MoU with the Castellón City Council and Port Authority for a €1.4 million, three phase project to be completed in 2031. Up to 800,000 tons per year of renewable ammonia will be produced, with an electrolytic hydrogen facility and ammonia plant to be located adjacent to the Port of Castellón. Ammonia storage will take place at the Port itself, with the product to be shipped by sea to large, industrial offtakers.
[The project] consolidates Castellón’s strategic role as a national benchmark as a hub for green energy, [contributing to the objective of] energy sovereignty that we are seeking in the Valencian Community to generate the energy we consume and contribute to decarbonisation and sustainability.
Carlos Mazón, President of the Generalitat Valenciana, in IGNIS’ official press release, 19 June 2024
€400 million investment partnership with KKR
And a new partnership with investment firm KKR will assist project finance. Via a €400 million investment from KKR, the pair have launched “IGNIS P2X”, a P2X platform for hydrogen and ammonia projects (including Castellón). IGNIS and KKR will take a 50:50 stake in the platform and project pipeline.
IGNIS P2X will develop green hydrogen, ammonia, e-methanol, e-fuels and SAF production plants serving blue chip corporates active in refining, steel, chemicals, fertiliser, among other sectors, as well as traditional renewables, largely wind and solar, associated with the hydrogen and ammonia projects. Projects will be located near large off-takers, providing a critical enabling technology for the decarbonisation of hard-to-abate sectors.
The platform includes a pipeline of around 20 GW of P2X projects across Spain and other selected countries, as well as more than 10 GW of advanced and early-stage renewables in Spain and additional renewable projects globally, to be developed by a dedicated P2X team.
IGNIS P2X platform details, in KKR’s official press release, 25 June 2024