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Suma Capital and BBVA partner to invest in the circular economy, biogas and biomethane

21/07/2023

BBVA, the leading financial institution in ESG, has joined Suma Capital to expand its track record and expertise in responsible investments. To do so, it will invest in Suma Capital’s third sustainable infrastructure fund, SC Climate Impact Fund III with a size of €300M.

Specifically, BBVA will invest in the sustainable infrastructure fund SC Climate Impact Fund III (SCCIF III), specialized in energy transition, circular economy and waste management to produce energy: biogas and biomethane.

With this investment, BBVA accesses the deal flow of energy services and sustainable energy production companies in Spain through Suma Capital. For the bank, it also implies a high potential for learning from our firm, a benchmark in the field of responsible investments. A learning process, furthermore, boosted by direct access to both Suma’s investment team and the companies in its portfolio.

BBVA’s investment is in Suma Capital‘s third sustainable infrastructure fund, SC Climate Impact Fund III FCRE with a size of €300M. In this way, BBVA joins other Spanish and European institutional investors and family offices already participating in the Fund. In terms of geographic scope, Suma Capital expects investments in Spain to represent 50-70% of total commitments, with the remainder in Europe (mainly France, Germany, Italy and the UK).

Enrique Tombas, Chairman and founding partner of Suma Capital, said that “working hand in hand with BBVA, a leader in ESG in the banking sector, is an exceptional opportunity to promote our common investment strategy and move towards a more sustainable future. Suma Capital is committed to working closely with the BBVA team, sharing knowledge and experience to maximize the positive impact of our joint investments in sustainable infrastructure. We are excited to embark on this new project and are confident that this alliance will lead us to achieve even more significant and transformative results for society and the planet”.

Javier Rodríguez Soler, BBVA’s Global Head of Sustainability, added that “for BBVA, sustainability is a business opportunity and this investment is part of our global sustainability strategy and, specifically, investment in climate funds. These funds generate an attractive risk-adjusted financial return and will allow BBVA to learn in this environment and become a benchmark in the financing of these technologies”.

Through these investments and by supporting technologies with enormous future potential, Suma Capital and BBVA actively contribute to the goal of decarbonizing the economy.