Engineering company Técnicas Reunidas has signed an agreement with integrated renewable group IGNIS to provide engineering services for the design of up to five green ammonia projects in different locations in Spain, with a possible final investment that could exceed €5 billion.
Through the agreement, Técnicas Reunidas will provide engineering services for the design of the projects from the feasibility phase to the front-end engineering design (FEED), including the evaluation and selection of technologies. Furthermore, the agreement contemplates alternatives for the execution of the projects, whose locations have already been identified.
The agreement has been signed within the framework of the IGNIS P2X project launched by IGNIS together with investment company KKR and is said to be a part of IGNIS’ strategy in the field of new energy vectors.
The IGNIS P2X platform will mainly develop hydrogen and green ammonia projects for industrial applications in industrial sectors that are difficult to decarbonize, including green hydrogen, ammonia, e-methanol, e-fuels and SAF production plants, which will provide services for companies in sectors such as refining, steel, chemical and fertilizers, among others.
IGNIS said that 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.
To note, Técnicas Reunidas said that in 2023 and during the first months of 2024, the company was awarded more than €300 million in projects related to low-emission technologies. These awards are engineering services contracts for projects in the hydrogen value chain, biofuels or carbon capture.
As for IGNIS, the company focuses on the renewable energy sector and innovative energy solutions. Currently, it is said to have an operational portfolio of 6.6 GW of generation technologies.