News | 23 March 2026
Partnering with Doral Renewables LLC to Power the Energy Transition
BBVA CIB is proud to serve as the Primary Intermediary LC Issuer in a $525M surety-backed financing deal for Doral Renewables LLC.
By bridging the gap between the insurance market and banking infrastructure, we are helping Doral optimize their capital and accelerate their over 17 GW U.S. solar and storage pipeline. Innovative structure. Sustainable impact.
Cristina Querejeta, Global Sector Head of Insurance Coverage at BBVA CIB, stated:
"We are pleased to have supported Doral through our relationship with Howden, which reflects both the strength of the underlying platform and our continued commitment to providing flexible, capital-efficient solutions that BBVA can deliver. This collaboration underscores our strategic focus on the insurance sector, where we combine deep industry expertise with innovative financial structures to support the evolving needs of our institutional clients and partners."
Francisco Javier Fernandez de Troconiz Nuñez, Head of Global Trade & International Banking at BBVA CIB, added:
"The Surety-Backed Letter of Credit solution to support Doral highlights our capability to combine structuring expertise with strong execution to meet our clients' evolving needs, whilst working closely with a strong partner like Howden in the UK to provide global solutions to our clients."
By bridging the gap between the insurance market and banking infrastructure, we are helping Doral optimize their capital and accelerate their over 17 GW U.S. solar and storage pipeline. Innovative structure. Sustainable impact.
Cristina Querejeta, Global Sector Head of Insurance Coverage at BBVA CIB, stated:
"We are pleased to have supported Doral through our relationship with Howden, which reflects both the strength of the underlying platform and our continued commitment to providing flexible, capital-efficient solutions that BBVA can deliver. This collaboration underscores our strategic focus on the insurance sector, where we combine deep industry expertise with innovative financial structures to support the evolving needs of our institutional clients and partners."
Francisco Javier Fernandez de Troconiz Nuñez, Head of Global Trade & International Banking at BBVA CIB, added:
"The Surety-Backed Letter of Credit solution to support Doral highlights our capability to combine structuring expertise with strong execution to meet our clients' evolving needs, whilst working closely with a strong partner like Howden in the UK to provide global solutions to our clients."