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Energy 02 Feb 2024

BBVA hosts the first meeting of the Cleantech for Iberia coalition

Cleantech for Iberia brings together cleantech companies, investors and policy makers to boost the potential of Spain and Portugal as a clean energy hub in the European Union.

BBVA's headquarters in Madrid hosted the launch event for the Cleantech for Iberia coalition, an initiative that aims to become a benchmark and reinforce the Iberian Peninsula's position as a leader in the 'cleantech’ sector. The event was attended by Irene Gálvez, head of the Cleantech Growth Capital Division at the European Investment Bank (EIB), Mario Fernández, head of Breakthrough Energy Catalyst, as well as universities, incubators and major scale-ups in the cleantech industry.

"From BBVA we want to contribute our experience in high-growth areas such as decarbonization and innovative entrepreneurship. To cement the Iberian Peninsula's role in the clean technology sector, we must join forces to promote policies, foster research and education and support the development and financing of cleantech projects. These will be essential to reduce emissions in sectors that are difficult to decarbonize," said Victoria Mozos, an investment manager in BBVA's Sustainability area.

Attendees discussed the coalition's ambitions and set out the priorities and lines of action on which they will work throughout the year. These include the development of a green reindustrialization plan for the Iberian Peninsula and a plan to promote investment in the clean technology sector in the region.

First meeting of the Cleantech fo Iberia coalition in Ciudad BBVA - BBVA

"This meeting, by bringing together the main players of the cleantech ecosystem in the Iberian Peninsula, marked a milestone in our mission to transform the region into the next European industrial leader," explained Bianca Dragomir, executive director of Cleantech for Iberia. "Clean technologies provide an unprecedented opportunity to reindustrialize the region, which will create valuable jobs, attract talent and investment, accelerate the energy transition and reduce fossil fuel dependence on third parties.”

For Julia Reinaud, senior director of Breakthrough Energy, "This meeting marks a collective commitment to innovation and decarbonization. It demonstrates that clean technologies are not only essential for climate goals, but also for strengthening the region's economy through the creation of new industries. At Breakthrough Energy, we are committed to supporting Cleantech for Iberia to achieve a cleaner and more prosperous future in Spain and Portugal."

Cleantech for Iberia, driven by the Cleantech Group and the Bill Gates Breakthrough Energy Foundation, comprises 21 leading investors, innovators, universities and incubators in Spain and Portugal, all of whom are key players in the region's green technology ecosystem. BBVA is the only financial institution within Cleantech for Iberia. The coalition is also supported by climate funds (Net Zero Ventures, Klima, A&G, Axon or Adara, among others) and companies that have invested in clean technologies in the region (Malta, H2 Green Steel, or Plastic Energy, among others). The initiative brings together funds totaling more than one billion euros under management.