BBVA and KKR Partner to Invest $200 Million in Global Climate Projects, Driving Low-Carbon Infrastructure

BBVA and KKR Partner to Invest $200 Million in Global Climate Projects, Driving Low-Carbon Infrastructure

(IN BRIEF) BBVA has formed a strategic partnership with investment firm KKR, committing $200 million to support KKR’s Global Climate Strategy, which focuses on large-scale climate infrastructure projects like energy transition and electrification. The partnership, announced during Climate Week in New York, aims to drive growth in low-carbon infrastructure, leveraging the expertise of both BBVA and KKR. BBVA’s Global Head of Sustainability, Javier Rodríguez Soler, emphasized the collaboration as a key part of the bank’s sustainability strategy. KKR, with over $21 billion invested in renewable energy and climate projects, brings significant experience to the alliance.

(PRESS RELEASE) BILBAO, 27-Sep-2024 — /EuropaWire/ — BBVA has entered into a strategic partnership with global investment firm KKR, committing $200 million to KKR’s Global Climate Strategy to support the global transition to a low-carbon economy. Announced during New York’s Climate Week, this collaboration aims to identify and invest in large-scale climate infrastructure projects, such as those related to energy transition and electrification. BBVA and KKR will leverage their shared strengths and expertise to drive growth in sectors like energy, construction, and mobility across the U.S. and Europe.

Javier Rodríguez Soler, BBVA’s Global Head of Sustainability and Corporate & Investment Banking, emphasized the importance of this partnership as a critical component of the bank’s sustainability strategy. He highlighted the opportunity for substantial growth in low-carbon infrastructure over the coming decade, with BBVA aiming to lead in providing advisory and financing solutions for these emerging sectors.

The collaboration also underscores the role that global investors and financial institutions must play in supporting decarbonization efforts. KKR, with over $21 billion invested in renewable energy and climate projects through its infrastructure platform, brings deep expertise to this partnership. Recent KKR investments include UK-based Zenobē, the U.S. solar developer Avantus, and Spain’s Ignis for green hydrogen and ammonia projects.

BBVA continues to prioritize sustainability, establishing a dedicated global financing unit focused on clean technology and launching a sustainability hub in Houston to lead energy transition financing in the U.S.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com.

For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

¹At the Q2’24 closing exchange rate of the bank’s fixing: 1,0705 EUR/USD

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SOURCE: BBVA