Madrid's Ignis raises €335M to boost renewable energy sector in Spain

Ignis secures €335 million in funding for solar projects in Spain, aiming to develop up to 500MW capacity. The Madrid-based renewable energy provider continues its commitment to a sustainable future.
Madrid's Ignis raises €335M to boost renewable energy sector in Spain

Ignis, a Madrid-based provider of renewable energy sector solutions, has successfully secured €335 million in financial backing to support its ambitious solar project development endeavors in Spain.

Deutsche Bank led the funding round with Rabobank, ABN Amro, and Triodos Bank participating.

The loan infusion will empower Ignis to finance projects with a combined capacity of up to 500 megawatts (MW), effectively mitigating a significant portion of the debt required to execute its comprehensive strategy encompassing the design, construction, promotion, and operation of these solar assets.

Notably, Ignis has already secured the essential environmental permits for the upcoming renewable projects scheduled for initiation between 2023 and 2024. These solar plants will not only contribute substantially to the reduction of carbon emissions but also foster socio-economic growth within their respective regions.

This growth will be manifested through the creation of fresh employment opportunities across various municipalities, with a focus on hiring highly skilled personnel for both the construction and maintenance phases of these cutting-edge facilities.

Additionally, Ignis will retain full ownership and operational responsibilities for these solar plants, further bolstering its portfolio, which currently has approximately five gigawatts (GW) of managed operating assets, encompassing both self-owned and third-party projects.

This development comes on the heels of Ignis's recent commitments to several power purchase agreements linked to the commissioning of new solar power plants throughout Spain, cementing the company's dedication to a sustainable and greener future.

Lead image via Photo: Uncredited.

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