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Ignis - the Spanish energy company founded in 2015 and focused on the development of clean and competitive energies - together with KKR - a global investment firm founded in 1976 in the US - have formed the company Ignis P2X, requesting Técnicas Reunidas to carry out the engineering for the design of up to 5 green ammonia projects in different locations in Spain with a planned investment of 5 million euros. Técnicas Reunidas is a Spanish multinational company specialized in engineering and construction of infrastructures for the oil and gas sector. Moreover, important to be remarked is the fact that the activities developed by Técnicas Reunidas through its strategy for decarbonization, named “track”, receive an important boost within the framework of “Salta” - which constitutes the new strategic framework publicly presented by the company by the end of May. The agreement with Ignis is enclosed in “Salta”, which includes providing support to clients in the early stages of project development and the co-development of projects with companies of recognized prestige in the energy sector.

Ignis P2X aims to develop green hydrogen and ammonia projects for industrial purposes. The joint venture will develop production plants for green hydrogen, ammonia, methanol, efuels and SAF (next generation aviation fuels). These energies will provide service to companies in sectors such as refineries, steel, chemicals and fertilizers, among others. The platform will also develop more traditional projects, such as wind and solar, associated with hydrogen and ammonia.

The KKR investment fund has contributed with an investment amounting to 400 million euros to strengthen this business together with the Spanish company Ignis.

The Ignis P2X project includes a portfolio of approximately 20 GW in projects in Spain and other countries in the United States, Latin America and Asia, as well as more than 10 GW of renewable energies in various phases of development around the world and will be developed by a team specialized in P2X technology. This technology is a fundamental component for the decarbonization of the chemical, maritime and aviation sectors. The X refers to the conversion of electricity into liquid or gaseous fuels or chemicals, such as e-ammonia, e-methanol, methane, green hydrogen and syngas. In the last two years, this is the second major agreement that Ignis has sealed with large investment funds. 

A few weeks ago, Ignis announced a mega investment of 1,425 million euros to build a green ammonia plant using water and renewable energy in the town of Castellón (Spain). The project, called Armonia Green Comunitat Valenciana, estimates that it will produce up to 861,000 tons of green ammonia per year, avoiding the emission of more than two million tons of CO2.

The production of renewable fuels has become one of the great specialties of Técnicas Reunidas, which has won several Feed projects similar to those of Ignis. Among the projects, need to be highlighted the Atlas Agro plant on the west coast of the US and the Fortescue project in Norway. In addition, the Copenhagen Infrastructure fund has also hired Técnicas Reunidas to design a green hydrogen production plant using 5,000 MW electrolyzers in the town of Andorra, Teruel (Spain).

Source: https://www.alfalaval.es/industrias/energia-e-industria/sustainablesolutions/soluciones-sostenibles/energia-limpia/power-to-x/, https://www.pressreader.com/spain/expansion-nacional/20240702/281706914880449