The Sevillian Ingenostrum, a leader in energy transition in our country, has been the protagonist of the first financing round of 25 million carried out by the company Andera Partners through its Andera Smart Infra 1 fund.
This operation is the first that the French fund executes outside its country and whose objective is to accelerate the growth of Ingenostrum, finance the construction of its portfolio of photovoltaic projects and continue expanding its portfolio of data centers and Power to X projects.
This transaction, which has been possible thanks to a deep review of each vertical of the pipeline and has had the help of Greensolver, Colliers, Queark and Strategy
Santiago Agundez RodrÃguez, CEO of Ingenostrum, comments: “We have identified Andera as the ideal partner to develop Ingenostrum’s business in its new verticals. Ingenostrum will benefit from the experience of Andera Infra in France in the new verticals developed by Ingenostrum, including hydrogen. In the transaction process, we have learned to work together and are now confident that the partnership will contribute to the success of Ingenostrum.”
Guy Auger, partner at Andera Smart Infra, adds: “Investing in Ingenostrum is a great opportunity for Andera Smart Infra to expand its portfolio to the Iberian Peninsula, and cover key topics for our investment thesis: renewable energy, power to of green data. Working with Santiago and his team, we have been impressed by the quality of the team and their projects. We are looking forward to taking new steps together.”
Founded in 2009 and directed by Santiago RodrÃguez Agúndez, Ingenostrum is a company that promotes renewable energy projects based in Seville and Madrid. In the last 10 years, the company has launched more than 10 GW of solar projects as a co-developer for third parties in Spain, Latin America, the US and Asia.
With a team of more than 60 people, the company is an expert in the development of renewable energy projects, battery storage, data centers and new energy vectors such as green hydrogen, e-methanol or e-ammonia. Ingenostrum has more than doubled its revenue in the last 3 years.
Spain is a leading country in renewable energies within Europe. Spanish solar energy is expected to reach approx. 77 GW of installed capacity in 2030, more than 2 times the current level.
Spain is also experiencing exponential growth in its data center market due to the overload of FLAP-D centers. The Spanish data center market could reach 600 MW IT in 4 years. Both the strategic location, near submarine cables, and its access to renewable electricity, make our country a key place for the development of these infrastructures in a sustainable way.
Furthermore, thanks to the low LCOE (Leverage Cost of Energy) of renewable energy, the Power to X market is also developing rapidly in Spain, with special attention to H2 and ammonia. Enagas predicts that in 2030 Spain could produce between 2 and 3 Mt per year of renewable hydrogen.
