KKR and IGNIS have partnered to launch IGNIS P2X. IGNIS P2X is a new Power-to-X platform to develop green hydrogen and ammonia projects for industrial applications in hard-to-abate sectors. KKR will invest up to €400 million in the development and construction of future projects. Both the companies will own 50 per cent stake each in IGNIS P2X.
IGNIS P2X will focus on developing green hydrogen, ammonia, e-methanol, e-fuels, and sustainable aviation fuel (SAF) production plants to serve major corporations in refining, steel, chemicals, and fertiliser industries, among others. Additionally, it will also involve traditional renewable energy sources like wind and solar, linked to the hydrogen and ammonia projects.
Furthermore, the projects will be located near large offtakers, supporting the decarbonization of difficult-to-abate sectors. The platform includes a pipeline of approximately 20 GW of P2X projects in Spain and other selected countries, as well as over 10 GW of advanced and early-stage renewable projects in Spain and additional global renewable projects, all to be developed by a specialised P2X team.
