KKR and IGNIS have announced a partnership to launch IGNIS P2X, a new platform aimed at developing green hydrogen and ammonia projects for industrial applications in hard-to-abate sectors. KKR will provide up to €400 million for future projects, with both companies owning 50% each of IGNIS P2X. The platform will focus on producing green hydrogen, ammonia, e-methanol, e-fuels, and SAF for sectors like refining, steel, and chemicals. IGNIS' portfolio includes over 300 renewable projects in ten countries, managing 6.6 GW of power assets in Spain. IGNIS P2X aims to decarbonize heavy industry in Spain and globally, with a pipeline of 20 GW of P2X projects and 10 GW of renewable projects. KKR's deep expertise in renewable energy and climate investments, with over $21 billion invested in the sector, supports this initiative. The partnership aligns with KKR's global climate strategy, focusing on investing in solutions for a low-carbon economy, following investments in Zenobē and Avantus in transport electrification and solar projects, respectively.