BBVA Expands U.S. Investment Focus on Sustainability and Energy Growth

The Facts -

The United States is witnessing a significant surge in corporate growth, particularly among major companies, according to BBVA's Global Head of Sustainability and Corporate & Investment Banking, Rodríguez Soler. "We are putting a huge emphasis on corporations worldwide in all the markets in which we grow. And obviously the U.S. market is probably the market in which we are growing the most with big companies,” he stated during a conversation with Francisco Gea of Repsol.

Highlighting BBVA's key advantages, Rodríguez Soler mentioned the bank's focus on sustainability, global reach, and its technological and cross-border capabilities. These attributes are crucial as the global economy demands substantial investments.

The United States is experiencing increased energy demand, driven by economic expansion, population growth, and technological advancements such as artificial intelligence, which boost the need for data centers. This scenario propels a new cycle of investments in essential infrastructure like power grids and renewable energy sources. Rodríguez Soler emphasized that clean technologies offer both necessity and profitability.

The bank's U.S. investment strategy is heavily influenced by growth opportunities in technology and energy. Rodríguez Soler explained BBVA's establishment of a Sustainability Hub in Houston and the expansion of its operations in New York as part of its ambition to make sustainability a key growth driver. The bank also aims to capitalize on the investments in renewable, solar, and wind energies across the U.S., foreseeing 800 gigawatts of new capacity in the next decade.

The energy sector's outlook includes infrastructure challenges, with Rodríguez Soler noting a stark contrast in the pace of high-voltage line construction compared to other nations. He pointed out, “In the past five years, only 2,000 miles [3,200 km] of HV lines have been built in the U.S., versus 6,000 [9,700 km] in Brazil or 22,000 [35,000 km] in China. We estimate $700 billion needed in investments in transmission and distribution infrastructure by 2030 in the U.S. We need more capacity in power generation.”

Strengthening International Ties

BBVA is committed to fostering bilateral relations between Spain and the U.S. Rodríguez Soler emphasized the bank's role as a reliable financial partner for Spanish companies in the U.S. and American firms seeking international expansion. Texas, with its substantial economic activity, represents a lucrative investment destination for many Spanish companies considering expansion into U.S. states such as Florida, New York, and California.

Furthermore, Texas is pivotal for cross-border business opportunities with Mexico. BBVA’s leadership in Mexico, where it is the largest financial institution, enhances its investment strategy in the U.S. This is underscored by the creation of a nearshoring unit in Houston to seize such opportunities. Mexico, as per Rodríguez Soler, benefits from the shifting trade dynamics, particularly with tariffs impacting China.

Reaffirming BBVA's dedication to global sustainability, Rodríguez Soler highlighted the bank's achievements and future goals: “Having already channeled €304 billion in sustainable business between 2018 and 2024, we recently set a new global target: €700 billion by 2029. This demonstrates our commitment to mobilizing capital at scale to accelerate the sustainable transition—both in the U.S. and globally.”

The event, organized by the Spain–U.S. Chamber of Commerce, occurred alongside the unveiling of the first barometer on the climate and outlook for Spanish investment in the United States. The gathering, attended by business leaders and government officials, was presided over by Spain’s Minister of Economy, Trade and Enterprise, Carlos Cuerpo, with BBVA and Repsol as sponsors.

---
Read More USA Works News