Madrid-based IGNIS, an energy company, announced on Thursday, September 14, that it has secured €335M in a loan led by Deutsche Bank, with participation from Rabobank, ABN Amro and Triodos Bank.
IGNIS was advised by Cuatrecasas and the financial institutions by Clifford Chance.
IGNIS says the loan will allow it to finance projects up to 500 MW of capacity, covering a relevant part of the debt necessary for its strategy regarding the design, construction, promotion, and operation of power plants in Spain.
The financing structure is therefore adapted to the EPC (Engineering Procurement and Construction) and PPA (Power Purchase Agreement) strategy driven by the company in its strategic energy transition plan.
Moving to renewable energy
By 2023 and 2024, IGNIS plans to launch renewable developments that already have the necessary environmental permits for their construction.
These developments will prevent the emission of 324,000 tonnes of CO2 per year and produce 900 GWh of energy annually. This is enough to meet the power needs of 260,000 households.
In addition, the construction and maintenance of new solar plants will create job opportunities and contribute to the socio-economic development of the areas.
IGNIS has signed several power purchase agreements (PPAs) in Spain.
The agreements are linked to the commissioning of new solar power plants that will be fully owned, operated, and maintained by IGNIS.
These additions will increase the company’s portfolio of managed operating assets (owned and third-party) to around 5 GW, contributing to the improvement of the industrial sector’s competitiveness.
About IGNIS
Founded in 2015 by a team of engineers, IGNIS has focused its business strategy on the development of clean and competitive energy projects with a leadership position in Spain and an increasing international presence in 11 countries.
Additionally, the company has incorporated new business areas such as energy management, where it holds 6 per cent of the Spanish electricity market share.
The Spanish company is vertically integrated in the energy sector value chain with capabilities in EPC (Engineering, Procurement and Construction) and O&M (Operation and Maintenance) areas, as well.
Read the orginal article: https://siliconcanals.com/news/startups/madrid-ignis-bags-335m-loan/
