BBVA CIB expands its Tax Credit Monetization business with senior hire in New York

BBVA Corporate & Investment Banking (CIB) continues its strategic expansion in the U.S. with the appointment of Jorge Colmenares as Managing Director for Tax Credit Monetization, based in New York. This senior hire reinforces BBVA’s commitment to providing innovative financing solutions and strengthens BBVA’s growing presence in the U.S. renewable energy sector.

BBVA CIB formally launches its Tax Credit Monetization unit, designed to offer specialized capital raising and structured finance solutions tied to energy tax credit – an increasingly relevant asset class amid the evolving U.S. regulatory and investment landscape.

Jorge Colmenares brings over 25 years of experience in project finance, renewable energy, and tax credit advisory. He joins BBVA CIB from Citibank, where he led the Tax Credit Monetization desk and played an essential role in developing hybrid financing solutions for clean energy projects. Previously, he held a leadership role at GE Capital and has advised on a wide range of renewable energy transactions across the U.S.

Strengthening Tax Credit Monetization Services

In his new role at BBVA, Colmenares will lead efforts to originate and structure tax equity and related financing transactions under the direction of Philip Schubert, Head of Investment Banking & Finance for the U.S.

“We are pleased to have Jorge on board at a pivotal time in our growth journey in the U.S.”, said Philip Schubert. “His extensive experience in Tax Credit Monetization and deep knowledge of the renewable energy market will be crucial as we grow our strategic relationships with institutional and corporate clients, delivering tailored solutions to support their investment goals. This new addition reflects our continuous commitment to anticipating client needs, establishing long-term partnerships with them, and enhancing our presence in the U.S.”

This strategic hire supports BBVA’s broader strategy to establish specialized teams in strategic global markets and to strengthen its capabilities in project finance, securitized products, and balance sheet solutions. BBVA is a leading bank in the U.S. for renewable energy financing, offering a full suite of lending, advisory, and capital markets services.

As BBVA CIB USA continues to invest in talent and broaden its expertise and capabilities, the bank is strengthening its position as a trusted global partner for U.S. clients in project finance and beyond.