Tikehau Capital sells Spanish bioenergy platform to Igneo

In Spain, Tikehau Capital and Igneo Infrastructure Partners announced the completion of the sale of ENSO to Igneo. Headquartered in Madrid, ENSO is Spain’s leading integrated bioenergy platform, specializing in the engineering, development, financing, construction, operation and supply of electric, thermal and cogeneration biomass plants. These facilities are designed for large thermal-intensive industrial clients aiming to decarbonize onsite heat and/or electricity generation, replacing natural gas or other fossil fuels.

ENSO’s ambitious growth strategy targets the development of approximately 400MWth in biomass projects over the next three years, supported by an initial investment program of approximately €450 million. The platform currently operates five assets and manages a robust pipeline of projects at various stages of development, with several now entering the

construction phase. This initiative aims to offset up to 500,000 tonnes of CO2 emissions, reflecting ENSO’s mission to deliver sustainable thermal energy solutions to top-tier industrial clients across the Iberian Peninsula. The company is also actively seeking to contribute to the renewable fuels transition by capturing and supplying biogenic CO2, leveraging the experience gained in the first carbon capture unit (CCU) already operational in its portfolio. This project is being carried out in partnership with Carburos Metálicos under the LIFE granting scheme.

Tikehau Capital invested in ENSO in 2020 through the carve-out of Acek Renewables’ biomass businesses from the Gestamp Group. In response to rising demand for renewable thermal energy to reduce CO2 emissions, ENSO has become a trusted partner for corporates in sectors such as food & beverage, paper and chemicals, supporting their transition to low-carbon operations. The acquisition of ENSO further expands Igneo’s renewables footprint in the Iberian Peninsula, highlighting its long-term commitment to driving the global energy transition. Other assets in Igneo’s European renewables sector include DAH Group, an integrated renewable energy company in Germany, and Finerge, Portugal’s second-largest renewable energy producer.