800 million in international projects

CaixaBank invests 2,400 million Euros in renewable energy projects

photo_camera REUTERS - Placas solares

During the first eight months of 2020, CaixaBank has invested more than 2,700 million euros in energy projects, of which 2,400 million correspond to renewable energy generation initiatives. CaixaBank is thus recording record financing for this type of energy. Only up to August 2020 has the figure achieved in the whole of the previous financial year been reached.

The main part of the direct investment, some 1,500 million euros, has been allocated to photovoltaic energy projects. Investment in wind power has reached 600 million euros and other renewable generation technologies have obtained financing of 300 million euros. In addition, loans totalling Euro 300 million have been taken out in relation to the transport and liquefaction of natural gas, an essential technology for the large-scale implementation of renewable generation.

During the first eight months of 2020, CaixaBank has formalised loans in Spain for more than 1,600 million Euros, all related to renewable generation sources. This represents 26% more than in the whole of 2019 (1,270 million euros) and shows CaixaBank's commitment to the environment, to society and to the main promoters of the sector.

800 million euros in international projects

In the international sphere, CaixaBank has invested 800 million euros in renewable energy generation projects in 2020, highlighting its ongoing commitment to wind energy, both onshore and offshore. Among the main international operations in 2020, the two carried out in Chile stand out, with a total of over 800 MW, as well as several operations in Canada totalling over 500 MW.

The entity has also participated in two emblematic offshore wind operations in France and the United Kingdom, with an installed capacity of over 1,500 MW. CaixaBank already has 16 operations financed in this segment.

Also noteworthy is the activity carried out in photovoltaic in the USA, with more than 900 MW financed. All in all, CaixaBank has become one of the leading entities in the sector.

32,000 MW renewable from 2011

Since 2011, CaixaBank has financed renewable energy projects with an installed capacity of over 32,000 MW. The exposure of CaixaBank's energy portfolio accounts for 51% of total project financing. Of these, 62% correspond to renewable energy projects.

Currently, CaixaBank's renewable energy portfolio is made up of 58% of wind projects; 31% of photovoltaic projects; 10% of solar thermal projects; and the remaining 1% of other technologies.

CaixaBank, committed to sustainable financing

CaixaBank is reinforcing the implementation of the principles of responsible investment and its commitment to sustainable investment as a strategy for managing global risks. In its activity, it supports initiatives that are respectful of the environment and that contribute to preventing and mitigating climate change and the transition to a low-carbon economy. In this way, CaixaBank is consolidating its position as one of the leading institutions in sustainable financing and, according to the Dealogic ranking for the first half of 2020, is already the second bank in Europe in terms of green financing.

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