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- BBVA commits $200 million to KKR’s Global Climate Strategy to drive investment in sustainable infrastructure and accelerate the transition to a low-carbon economy.
- Focus on new climate infrastructure investments and solutions in energy transition, electrification, and decarbonization.
- Strategic partnership leverages complementary strengths of BBVA and KKR to advance large-scale climate action projects.
BBVA and global investment firm KKR have announced a $200 million (€187 million) strategic partnership to support the decarbonization of the economy. This commitment, made during Climate Week in New York, aims to uncover investment opportunities in climate infrastructure and sustainable energy.
Driving the Energy Transition
BBVA’s Global Head of Sustainability and CIB, Javier Rodríguez Soler, emphasized the bank’s commitment to sustainability: “Our goal is to become a leader in deploying advisory and financing to support our clients in US and European sectors like Energy, Construction, and Mobility. This ambitious partnership with KKR will be a key piece of our sustainability strategy.”
The partnership will leverage the firms’ combined expertise to identify and invest in projects that support electrification, clean technology, and decarbonization, positioning both companies at the forefront of climate action.
Strategic Partnership with KKR
Emmanuel Lagarrigue and Charlie Gailliot, Co-Heads of KKR’s Global Climate Strategy, see the alliance as critical: “We are still in the early innings of a multi-decade transition to net zero, which is one of the biggest investment opportunities of our time. Collaborating with BBVA will enhance our efforts to multiply investments in infrastructure and climate projects.”
KKR brings over 15 years of infrastructure investment experience, having invested more than $21 billion in the renewable energy and climate sector. The firm has recently backed several innovative projects, including Zenobē in the UK for battery storage solutions, Avantus in the US for utility-scale solar, and Ignis in Spain for green hydrogen and ammonia projects.
BBVA’s Role in Sustainability
Sustainability is one of BBVA’s six strategic priorities, and the bank has established a dedicated financing unit specializing in cleantech innovation. This unit, with teams in New York, London, Madrid, and Houston, provides advisory and financing services to help clients navigate the energy transition.
Related Article: KKR and IGNIS Partner to Develop Green Hydrogen and Ammonia Technologies in Spain and Beyond
BBVA’s sustainability hub in Houston, launched on September 12th, further underscores its commitment to supporting clients in the energy transition, while also developing in-house expertise in clean technologies.
BBVA and KKR’s partnership marks a significant step towards driving sustainable investment and creating a low-carbon future, demonstrating the critical role of financial institutions in the global decarbonization effort.