Listen to this story:

• BBVA opens a new Houston office, aiming to lead financing for the U.S. energy transition.
• The bank’s strategy targets renewable energy, cleantech, and sustainable development sectors.
• BBVA plans to mobilize €300 billion in sustainable business by 2025, already achieving €252 billion.

BBVA Expands to Houston for U.S. Energy Transition Leadership

BBVA Group has opened a new office in Houston, positioning itself as a key player in financing the U.S. energy transition. This expansion is part of BBVA’s Corporate & Investment Banking (CIB) operations and aligns with its goal of supporting sustainability efforts across the country.

Driving U.S. Decarbonization

“We aim to make sustainability a driver of growth, support decarbonization projects, and position BBVA as the leading player in sustainable finance in the United States,” said Javier Rodríguez Soler, BBVA’s Global Head of Sustainability and CIB.

BBVA’s U.S. sustainability strategy focuses on financing renewable energy and emerging technologies such as hydrogen, carbon capture, and energy storage. Additionally, the bank supports sectors like electric vehicles, energy efficiency, and the circular economy, helping businesses transition to more sustainable models.

Houston: The Global Energy Transition Capital

Houston, home to over 4,700 energy-related companies, is recognized as the global hub for energy transition. The city plays a pivotal role in decarbonization efforts, making it the ideal location for BBVA’s new office.

“The United States has a unique opportunity to lead the global transition to a more sustainable economy. Our office in Houston, the energy transition capital of the world, will be a key component of our sustainability strategy, complementing and integrated with our New York operations,” noted Alvaro Aguilar, BBVA’s Head of Strategic Projects in the United States.

BBVA made this announcement during the first annual Houston Energy & Climate Week, where the bank served as a sponsor, further underscoring its commitment to supporting sustainable growth.

Related Article: HSBC Expands Private Credit with Global Transition Infrastructure and European Lending Strategies

Ambitious Goals in Sight

By 2025, BBVA aims to mobilize €300 billion in sustainable business efforts globally. As of June 2024, it had already reached €252 billion, reflecting strong progress towards this ambitious target.

BBVA’s new Houston office, along with its operations in New York, London, and Madrid, will play a critical role in supporting these goals. By the end of 2025, the Houston office is expected to house approximately 100 employees, marking it as a key growth area for the bank.