BBVA finances one of Spain’s first biomethane plants under a Project Finance model

BBVA reaffirms its commitment to supporting clients in the energy transition by financing Ence’s acquisition of the La Galera plant. This is one of Spain’s first biomethane production facilities, with a capacity of 50 GWh, and it has been developed under the innovative project finance model.

ENCE, a European leader in eucalyptus pulp production and Spain's leading company in renewable energy generation from agricultural and forestry biomass, strengthens its commitment to renewable energies and the circular economy with this acquisition. The La Galera plant is already operational and has been injecting biomethane into Enagás' distribution network since 2023. The company plans to refocus its production process by incorporating the manufacturing and commercialisation of organic fertilisers in compliance with European regulations.

Boosting Energy Autonomy

This approach, which the company will implement at La Galera, will promote decarbonisation, as the biofertiliser produced will not consume fossil energy, thereby reducing emissions and contributing to our country's energy autonomy.

Additionally, this business model will support denitrification through the management of organic biomass and the replacement of inorganic materials, preventing soil and aquifer contamination.

As Óscar Maciñeiras, General Manager of this line of activity, highlights: "The decarbonisation process is a priority for our society, as is contributing to energy autonomy."

Circular Economy and Rural Development

"At BBVA, we want to act as catalysts for this change, supporting our clients and providing financial solutions that drive decarbonisation," stated Karla Ceño, Executive Director responsible for CleanTech – Project Finance at BBVA CIB.

With this operation, BBVA positions itself as a pioneering player in promoting innovative financial models that will attract new investments to this emerging industry, contributing to the transition towards a low-carbon economy aligned with national and European climate goals.