KKR, a private equity firm, and Ignis, an integrated global renewable group, agreed to form a €400m ($428m) joint venture to develop primarily green hydrogen and ammonia projects for industrial applications in hard-to-abate sectors. “IGNIS is a leader in renewables in Spain, with an industrial mentality, differentiated P2X pipeline, and experienced management team. We believe this platform will play a critical role in the decarbonisation of heavy industry in Spain and internationally, driven by favourable regulatory tailwinds and its strong industrial integration with blue chip corporates. We look forward to working with Antonio Sieira and the management team on this pathway to a greener global economy,” Ryan Miller, KKR Managing Director.