BBVA’s New Houston Office to Support Energy Transition
Banco Bilbao Vizcaya Argentaria SA
BBVA Group has opened an office in Houston to boost its role in the energy transition in the US.
The new Houston office will help BBVA lead in sustainable finance and decarbonisation projects.
BBVA Group has launched an office in Houston to finance energy transition projects in the US. This is part of BBVA’s Corporate & Investment Banking (CIB) operations and its commitment to sustainability in the country.
Javier Rodríguez Soler, BBVA’s Global Head of Sustainability and CIB, said: “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."
BBVA’s US sustainability strategy is to support energy companies and those promoting sustainable development. This includes traditional renewable technologies, like wind and solar, as well as emerging cleantech, such as energy storage, hydrogen and carbon capture.
It also covers electric vehicles, energy efficiency and the circular economy, helping companies to transition to sustainable business models through financing and advisory services. BBVA aims to mobilise €300 billion in sustainable business between 2018 and 2025, having already reached €252 billion by June 2024.
“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,” said Alvaro Aguilar, BBVA’s Head of Strategic Projects in the US.
The announcement was made during the first Houston Energy & Climate Week, which BBVA sponsored. With over 4,700 energy-related companies and a leading position in the sector, Houston is the global hub for decarbonisation efforts.
The office will work with BBVA’s cleantech innovation finance teams in New York, London and Madrid. BBVA Mexico’s nearshoring unit has just joined the Houston office and BBVA Mexico’s Houston agency has been operating for years.
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Source: BBVA
