Driving Chile’s Sustainable Transformation Through Project Finance Leadership
BBVA Corporate & Investment Banking (CIB) leads the project finance market in Chile, with seven transactions and an estimated volume of approximately USD 500 million in 2025, according to LSEG Syndicated Loans data as of the end of September 2025. These deals, focused on energy transition and sustainable infrastructure projects, reflect the bank’s firm commitment to sustainable finance and the country’s development. Felipe Serani, Head of BBVA CIB in Chile, underscores that this progress signals “a paradigm shift in financing: from profitability to sustainability as a structural pillar of growth.”
Chile is advancing decisively towards more sustainable, resilient, and efficient production models. This process calls for long-term financial solutions, specialised technical support, and a perspective that combines global expertise with local execution. Within this context, BBVA CIB channels international capital towards projects that are reshaping the country's energy and economic landscape, fostering a transition driven by innovation and sustainability.
As of the end of September 2025, the bank has taken part in seven transactions, with a total volume nearing USD 500 million, reaffirming its consistent and active role in structuring long-term initiatives. These include standout projects in renewable energy, water, green mining, and battery energy storage systems (BESS), all of which play a significant role in enhancing Chile’s competitiveness and sustainability.
Beyond financing: enabling transformation
According to Felipe Serani, Head of BBVA CIB in Chile, these results “reflect the trust placed in us by our clients and the maturity of the local market.” He adds, “Sustainability is no longer just a narrative: it is now a way to structure capital. Chile is proving that growth and sustainability can go hand in hand, and BBVA CIB aims to be a key player in that journey.”
In this space, project finance has become a cornerstone of the bank’s activity, enabling the structuring of complex, long-term transactions in sectors that are critical to the energy transition. “The key lies in understanding both the technical and financial complexities of each project and in offering long-term solutions that deliver real impact,” Serani stresses. “Every transaction requires a tailored approach and a sustainability vision that goes beyond financing alone: it’s about accompanying the country’s transformation.”
Head of BBVA CIB in Chile
To strengthen this growth pillar, BBVA Chile has appointed David Velasco to lead local initiatives related to project finance and structured finance. With a solid track record, he has been involved in some of the most high-profile transactions in the Chilean market. His appointment aims to reinforce the team’s capabilities, with the goal of not only supporting transactions, but also leading them, as the bank already does in other markets.
At the same time, the technical capabilities and senior expertise of BBVA CIB’s team in Chile allow the bank to deliver a broader suite of financial solutions that complement these transactions, ranging from corporate and syndicated financing to the structuring of bonds and risk management derivatives. In doing so, the bank offers its clients a comprehensive value proposition that supports every stage of their investment and development cycles.
Moreover, BBVA CIB is committed to deepening its client relationships, providing ongoing and strategic support throughout their project lifecycles. “The bank maintains a constant dialogue with each company, with the goal of building strong, long-lasting partnerships based on trust, specialisation and a shared vision for sustainable growth,” says Serani.
Local execution, global reach
In line with this growth trajectory, BBVA CIB in Chile continues to strengthen its market position through the expansion of additional business lines that enhance its reach and connectivity with the bank’s global network.
From Santiago, BBVA CIB’s multidisciplinary team delivers a wide array of Global Trade & International Banking (GTB) solutions, ranging from traditional structures to complex, bespoke transactions tailored to each client’s needs. All deals have a significant cross-border component, coordinated through the bank’s international platform and in close collaboration with affiliates in Peru, Argentina, Colombia, Mexico, and Brazil, as well as financial hubs in New York and Madrid.
"Sustainability is no longer just a narrative: it is now a way to structure capital"
This model reinforces BBVA CIB’s role as a natural bridge between global investors and transformative projects, helping to channel international capital into local opportunities. At the same time, it positions Chile as a regional benchmark in sustainable finance and a key node within the bank’s Latin American network.
“The development of sustainable projects requires global coordination, technical know-how and local presence. That combination is what enables us to deliver differentiated value to our clients,” Serani explains.
BBVA CIB’s strategy in Chile brings together sustainable growth, sectoral specialisation and regional collaboration, with the goal of advancing the energy transition and supporting infrastructure modernisation. With this vision, the bank reaffirms its role as a long-term financial partner, committed to projects that deliver tangible value and progress for the country.
“Chile is where global capital meets opportunity,” Serani concludes. “Our aim is to help turn that connection into development, innovation, and a sustainable future for the country.”