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Energy

12 Apr 2024

“Decarbonization is a technological revolution that requires innovation and financing. Its scope is global and it will affect all industries and sectors,” said Antonio Bravo, Global Head of Sustainability Strategy and CIB at BBVA. In the framework of the Energy Tech Summit, which ended yesterday in Bilbao, Bravo emphasized “the key role” of financing new clean technologies. “BBVA is committed to financing cleantech to facilitate its growth on an industrial scale,” he stressed.

09 Apr 2024

BBVA is sponsoring the Energy Tech Summit, Europe's largest conference on innovation and investment in climate technologies and cleantech. More than 1,000 attendees from 40 countries including startups, investors, companies and government representatives will participate on April 10 and 11 in this event to be held at the Euskalduna Palace in Bilbao. The forum aims to connect and amplify the impact of new cleantech technologies in the fight against climate change.

02 Feb 2024

13 Dec 2023

01 Dec 2023

Producing hydrogen from renewable energy is a key challenge on the path to decarbonization and asset managers such as Hy24 are confident that this technology will reach maturity within the decade. BBVA has invested ten million in one of Hy24’s funds, which uses its capital to finance large-scale clean hydrogen infrastructure projects. Notably, it is the world’s largest clean hydrogen fund.

27 Nov 2023

21 Nov 2023

Garanti BBVA has signed a further agreement with Beyçelik Elawan Renewables Renewable Energy Production Inc. to finance a series of upgrades to the Yahyali Wind Power Plant, bringing the Turkish bank’s total investment to USD 145 million.

15 Nov 2023

30 Jun 2023

BBVA and Solarpack, a multinational specializing in the development and construction of solar power facilities and in sales of photovoltaic solar energy in Spain, have signed an arrangement to finance a long-term power purchase agreement (PPA) with Shell Energy Europe. A total €38 million in green finance will be allocated to a renewable energy project located in Murcia, Spain, which will generate more than 100 gigawatts (GWh) per year. The project will avoid the emission of approximately 70,300 tons of carbon dioxide.

05 Jun 2023

BBVA has built a new advisory tool into its app. With the help of strategic partners, the app now provides personalized guidance on how to lower energy consumption by installing solar panels in family homes. This functionality enables bank customers to see an estimate of how much they could save on their electricity bill thanks to self-consumption, without having to enter any data if they already have their home registered and their electricity bill settled by direct debit. In addition, the solution shows the estimated cost if solar panels are installed, the number of panels required for savings, the investment required, the option of ordering them digitally from the bank's energy partner through a turnkey service, and terms for access to BBVA credit. In the first quarter of 2023, the bank funded nearly 4,000 installations, which represents growth of 67 percent compared to the same period last year.

25 May 2022

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In remarks made at the World Economic Forum in Davos, BBVA Chair Carlos Torres Vila referred to the consequences of the war in Ukraine, not only on a humanitarian level, but also from an economic and energy standpoint. Regarding the need to reduce Europe's energy dependence, he believes that “in Spain, we have a great advantage; we have the energy resources of the future: The sun and the wind are the new oil, and we could be energy exporters to Europe.” In his opinion, “Spain has made many decisions in the right direction, we have to follow this path and make sure they work.”

25 Mar 2022

17 Aug 2021

BBVA and Windar Renovables, a leading global manufacturer of towers for onshore and offshore wind farms and foundations for offshore wind farms, have signed a sustainable invoice factoring line worth a total €50 million. The proceeds of the agreement will be used to finance a contract related to the Baltic Eagle offshore wind project, recently awarded to the company. This sustainable financing scheme, Windar Renovables’ first ever, will allow the company to, through the non-recourse sale of its invoices, muster the financial resources it needs to honor its contract obligations.

09 Jul 2021

BBVA has signed a partnership agreement with Acciona to inform, advise and finance projects for energy efficiency upgrades in buildings. The aim is to reduce the electricity bills (by using less energy) and the carbon dioxide (CO2) emissions of Spanish buildings, some of the most energy obsolete in Europe. In the first stage of this service, BBVA will contact almost 3,000 home owners in Spain to promote energy efficiency.

19 Apr 2021

13 Apr 2021

BBVA Chairman Carlos Torres Vila stressed today that the energy transition poses a great opportunity because many existing activities will see enormous growth as new activities will emerge. “Spain has a competitive advantage in the energy transition,” he said. “We have the natural resource - the new oil, which is the sun and the wind,” he added during his presentation on the second day of Wake up Spain, the energy transition symposium organized by El Español, Invertia and D+I.

05 Mar 2021

BBVA will reduce to zero its exposure to coal-related activities, stopping the financing of companies in this business by 2030 in developed countries, and by 2040 in the rest of the countries of its footprint. This decision, which is included in the updated BBVA's Environmental and Social Framework, is in line with the Intergovernmental Panel on Climate Change’s (IPCC) proposal. This aims to limit the rise in temperatures to a maximum of 1.5ºC and achieve the ambition of a carbon neutral economy in 2050.