Clifford Chance has advised IGNIS on the agreement reached with KKR to launch IGNIS P2X, a new Power-to-X (P2X) platform to develop primarily green hydrogen and ammonia projects for industrial applications in hard-to-abate sectors. KKR and IGNIS will own 50% each of IGNIS P2X when launched, which will start with a global pipeline of P2X and renewable projects.

IGNIS P2X will develop green hydrogen, ammonia, e-methanol, e-fuels and SAF production plants serving blue chip corporates active in refining, steel, chemicals, fertiliser, among other sectors, as well as traditional renewables, largely wind and solar, associated with the hydrogen and ammonia projects.

Projects will be located near large off-takers, providing a critical enabling technology for the decarbonisation of hard-to-abate sectors. The platform includes a pipeline of around 20 GW of P2X projects across Spain and other selected countries, as well as more than 10 GW of advanced and early-stage renewables in Spain and additional renewable projects globally, to be developed by a dedicated P2X team.

The Clifford Chance team was formed by partner Samir Azzouzi, counsel Javier Olábarri and senior associate Daniel García