The company is set to use the funds on a series of renewable projects between 2023 and 2024.

IGNIS, a leading integrated global energy company, has successfully secured EUR 335 million (USD 358,4 Million) in financing for the development of renewable energy projects in Spain. The financial closing, facilitated by Deutsche Bank AG, received overwhelming support from a syndicate of international banks.

According to the company's press release, the substantial loan will empower IGNIS to undertake projects with a combined capacity of up to 500 MW, significantly advancing the company's strategic goals in designing, constructing, promoting, and operating power plants in Spain. The financing structure aligns seamlessly with IGNIS's overarching strategy, emphasizing Engineering Procurement and Construction (EPC) and Power Purchase Agreements (PPA) as cornerstones of its energy transition plan.

IGNIS is set to embark on a series of renewable projects between 2023 and 2024. These projects have secured the necessary environmental permits for construction and are poised to prevent the emission of approximately 324,000 tons of CO2 annually while generating an impressive 900 GWh of clean energy per year. This capacity is sufficient to meet the energy needs of around 260,000 households.

Furthermore, these new solar installations should play a pivotal role in stimulating socio-economic development within the regions where they are situated. They are expected to create numerous job opportunities, spanning both the construction and maintenance phases of the plants, benefitting various municipalities.

Source: IGNIS