Sanjeev Gupta, Executive Chairman of sustainable industry leader GFG Alliance, has today signed an agreement with Antonio Sieira, CEO of IGNIS, an integrated energy company and the leading developer of large renewable energy projects in Spain. The partnership between IGNIS and SIMEC Energy Group (SIMEC), GFG’s global energy business, will work towards the development of one of Spain’s largest renewable energy programmes, with around 1.2GW generated from wind and solar energy to be operational by 2023. This will help fuel the development of GFG’s growth in energy intensive industries as well as its mission to be carbon neutral by 2030 (“CN30”).
Both SIMEC and IGNIS have a strong track record of delivering and operating renewable energy projects: SIMEC has around 600MW of existing capacity and is developing a further 2GW of renewable energy plants, including a 280MW capacity solar farm in South Australia, a 160MW onshore wind farm in Scotland and a cutting edge end-of-life waste to energy facility in Wales. IGNIS has developed and currently maintains a 725MW solar farm in Aragón, the largest in Europe, operates and delivers energy management services to 2.7GWs of power generation assets, and currently has a renewable development portfolio of more than 10GWs.
The joint venture is focussed on supporting GFG Alliance’s plan for growth in Spain in energy intensive industries through a highly competitive offering of long-term Power Purchase Agreements. There are a number of areas where SIMEC’s affiliated companies, ALVANCE Aluminium and LIBERTY Steel, are reviewing significant investment programmes.
Commenting on the agreement, Sanjeev Gupta, GFG Alliance Executive Chairman, said: “This is a very exciting first step into Spain for GFG. This joint venture is firmly aligned with our ambition to be carbon neutral by 2030 and could bring enormous economic, environmental and social benefits to the Galician region and to Spain more widely. We have proved our ability to develop, finance and build these projects elsewhere across the world and look forward to combining our expertise with that of IGNIS to do the same here in Spain.”
Antonio Sieira, IGNIS CEO, said: “In IGNIS we are excited to partner with the GFG Alliance team, to boost the renewable transition in Spain by contributing with our experience of successfully developing, implementing and managing innovative renewable solutions that deliver a competitive and reliable energy. In this direction, our joint venture will contribute to assure the competitiveness and long-term viability of key manufacturing sites of the Spanish energy intensive industry.”
Further information from:
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Paddy Toyne-Sewell |
+44 (0) 7767 498 195 |
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Juan Rivera |
+34 639 776 199 |
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Pilar Gracia |
+34 609 977 587 |
Note to Editors:
GFG Alliance is a collection of global businesses and investments owned by Sanjeev Gupta and his family. The Alliance is structured into three core industrial pillars; LIBERTY Steel Group, ALVANCE Aluminium Group and SIMEC Energy Group, independent of each other yet united through shared values and a purpose to create a sustainable future for industry and society. GFG Alliance employs 40,000 people, across 30 countries and has revenues of USD $20bn. GFG Alliance is a leader in sustainable industry with a mission to become Carbon Neutral by 2030 (CN30).
SIMEC Energy Group, part of the GFG Alliance, is a global energy and natural resources business with 2GW of existing assets and development pipeline, which brings together assets across renewable energy generation, mining, shipping and commodities trading. SIMEC Energy is developing a wide portfolio of renewable assets in the UK and Australia to support GFG Alliance’s low carbon metals and industrials strategy and already delivers low carbon energy from hydro and biofuel sources. SIMEC Energy will continue to drive the development of other green power sources such as wind, hydro, pumped hydro, solar, battery storage and energy from waste.
IGNIS is an integrated energy company including Generation -with more than 400 MW of owned assets-; Energy Services -delivering market representation and ancillary services to 2,700MW, including the operation one of the largest regulation zones in Spain-; O&M including long-term contract backlog for 3,100MW-; and Development -having one of the largest renewable generation development portfolios in Spain with +10,000MW-. IGNIS will continue to grow in Spain and globally with a focus to develop, finance, build and operate innovative multi-technology generation platforms that deliver reliable and cost-efficient energy to our customers world-wide.