Innovation and sustainability: BBVA’s four strategic pillars to drive cleantech

BBVA Corporate & Investment Banking (BBVA CIB) continues to reinforce its commitment to sustainability by promoting the financing of cleantech through four strategic pillars: energy storage, electric mobility, the CO₂ value chain and green molecules. Launched nearly three years ago, this initiative positions the bank as a key player in global decarbonisation, delivering pioneering solutions across its core geographies.

At BBVA CIB, sustainability is not just an objective, it is embedded at the heart of the bank’s growth strategy. The financing of clean technologies has become a driving force in accelerating the energy transition.

In this context, the Cleantech Project Finance team has evolved into a benchmark in the industry, providing tailored financial solutions to meet the needs of a rapidly changing market. This strategic commitment is structured around four main verticals, each of them critical to building a greener, more resilient future.

Energy storage: Building a stable grid for the future

Energy storage is a key enabler for the efficient integration of renewable energy and the stability of the power grid. BBVA finances battery energy storage system (BESS) projects, both in hybrid configurations alongside wind and solar farms, as well as stand-alone installations. These solutions help address the intermittency of renewable generation by storing excess electricity during peak production periods and releasing it when output drops, helping smooth demand curves.

BBVA brings deep expertise in key markets such as Chile and the United States, where generation and consumption profiles make storage a critical need. In Europe, particularly in Spain and Italy, the current regulatory environment actively supports the rollout of these technologies as system backup. Across all these markets, BBVA CIB acts as a strategic partner, supporting the transition to a more flexible and secure energy grid.

Electric mobility: Accelerating the transport revolution

The electrification of transport is a key pillar in the fight against climate change. BBVA CIB is leading the financing of critical infrastructure for electric mobility, with a particular focus on the deployment of charging networks and, notably, on battery gigafactories for electric vehicles. In this regard, the bank acted as Mandated Lead Arranger and hedging provider, together with five other banks, in the financing of a battery gigafactory for electric vehicles BBVA’s first project finance deal of this kind; and also participated in the €800 million financing of Ricarica in Italy.

BBVA is a pioneer in structuring this type of transaction under a project finance model, which enables self-financing through the asset’s own cash flows. This innovative approach represents a significant step forward compared to traditional corporate financing structures.

Through this vision, BBVA CIB supports the transformation of the automotive industry by enabling the development of the infrastructure needed for cleaner mobility.

The CO₂ value chain: Strategies for industrial decarbonisation

Carbon capture, usage and storage (CCUS) is emerging as an essential technology for decarbonising hard-to-abate sectors, where direct electrification is not a viable option. Karla Ceño, Executive Director responsible for CleanTech- Project Finance at BBVA CIB, explains: “We understand the complexity and capital intensity of these projects, which makes us a natural partner to finance and advise our clients. We are actively involved in the structuring and financing of the CO₂ value chain, from capture at industrial sites to transport and secure storage.”

BBVA CIB has participated in some of the UK’s first carbon capture and transport projects, with the capacity to store more than 4 million tonnes of CO₂ per year. At the same time, to underscore BBVA’s strategic role in financing the second phase of Northern Lights, the landmark CO₂ storage project developed in Norway.

In these transactions, BBVA goes beyond its role as financier and acts as a strategic advisor, helping clients navigate the complex regulatory and technological landscape.

Green molecules: The next frontier in sustainable energy

Green molecules offer a pathway to decarbonise sectors such as heavy industry, maritime transport and aviation. BBVA supports this transition by financing emerging technologies with bespoke financial solutions:

Green hydrogen, produced via electrolysis powered by renewable energy, is an energy vector with the potential to replace fossil fuels in multiple applications. Leveraging its structuring capabilities in early-stage markets, BBVA CIB financed the first project finance transaction for a hydrogen plant in Southern Europe, located in the Basque Country.

Renewable biomethane, produced from agricultural, livestock and industrial waste, offers a circular economy solution that helps decarbonize the existing gas network. Its direct injection into gas infrastructure strengthens energy security and reduces methane emissions. In this field, BBVA CIB has financed and structured projects in Italy and Spain, including the financing of Verdalia for the development of 45 biomethane plants, Ence’s acquisition of the La Galera plant, one of the first in Spain under a project finance structure, and its first biomethane financing in Italy alongside Suma Capital. These transactions position BBVA as a key partner in driving the energy transition.

Through these four Cleantech Project finance pillars, BBVA CIB strengthens its role as a strategic partner for corporates and institutions in the energy transition. The bank remains firmly committed to sustainability, delivering innovative financial solutions that contribute to a greener, more resilient future for all.