Madrid-based energy company IGNIS revealed that it successfully obtained a €335 million loan, spearheaded by Deutsche Bank, and with the active involvement of Rabobank, ABN Amro, and Triodos Bank.
Cuatrecasas provided advisory services to IGNIS, while Clifford Chance represented the financial institutions involved.
The Company has stated that this loan will enable it to fund projects with a capacity of up to 500 MW, effectively covering a significant portion of the debt required to implement its strategic initiatives related to the development, construction, promotion, and operation of power plants in Spain.
This financing structure aligns seamlessly with the company’s strategic energy transition plan, which emphasizes the Engineering Procurement and Construction (EPC) and Power Purchase Agreement (PPA) strategies.
Transitioning Toward Renewable Energy Solutions
Between 2023 and 2024, IGNIS is set to launch renewable projects with all the required environmental permits for construction in place. These initiatives are poised to curtail carbon emissions by 324,000 tonnes annually while generating 900 GWh of energy, a quantity sufficient to meet the electricity demands of 260,000 households.
Furthermore, the establishment and ongoing upkeep of these new solar facilities will yield job opportunities and foster socio-economic growth in their respective regions.
IGNIS has also entered into multiple power purchase agreements (PPAs) in Spain. These agreements are tied to the commissioning of fresh solar power plants that will be entirely owned, operated, and maintained by IGNIS. This expansion will bolster the company’s portfolio of managed operating assets, encompassing both proprietary and third-party assets, to approximately 5 GW, thereby enhancing the competitiveness of the industrial sector.
What You Should Know About IGNIS
Established in 2015 by a group of engineers, IGNIS has directed its corporate strategy toward the advancement of environmentally friendly and cost-effective energy initiatives. The company has assumed a leading role in Spain and expanded its global footprint to encompass 11 countries.
Furthermore, IGNIS has diversified its operations by venturing into energy management, where it now commands a 6 percent share of the Spanish electricity market. This Spanish firm boasts a vertical integration within the energy sector value chain, encompassing competencies in Engineering, Procurement, and Construction (EPC) as well as Operation and Maintenance (O&M) sectors.
