Since last year, this type of financing operation – a field in which we have more than 25 years’ experience – has formed part of the bank’s corporate strategy, through the Sabadell Sustainable Commitment programme.
This February saw the inauguration in El Perelló (Tarragona) of the extension of the “La Colladeta” wind farm. This increase has been financed by Sinia Renovables, Banco Sabadell’s subsidiary specialising in this type of operation.
As Xavier Comerma, Deputy General Manager of our entity and Territorial Director of Catalonia, underlined in his speech, for Banco Sabadell the financing of this type of operations is of great importance. Firstly, because through them the bank contributes to facilitating the transition of companies towards a decarbonised and sustainable economy. And secondly, because these investments “generate stable and quality jobs and contribute to boosting the economy of the territories where they are made”. Since last year, and through Sabadell Sustainable Commitment are a key part of our corporate strategy. In this regard, in 2022, we made €15bn of investment in sustainable transition projects available to companies, more than double the amount in 2021, and we are committed to reaching €65bn by 2025.
Sinia Renovables, Banco Sabadell’s spearhead in the field of sustainable energies
In the case of the El Perelló wind farm, the investment was made through Sínia Renovables, our division specialising in investments in renewable energies and sustainability, through which we support our clients in their projects during the development and construction phases. As well as wind energy projects, photovoltaic and biomethane projects, among others, are also financed. In recent years, it has focused even more on projects that can contribute to the energy financing of companies.
Members of the different units of Banco Sabadell and Sínia Renovables involved in the operation, on the day of the inauguration of the extension
Trailblazer in renewable energy financing
Banco Sabadell blazed the trail for financing renewable energy projects in Spain. Through Sinia Renovables, Banco Sabadell was also at the forefront of offering solutions to provide its own funds when necessary. Through Sínia Renovables, we target small and medium-sized renewable project developers in particular who wish to accelerate their growth.
In addition to Spain, we are currently present in Mexico, Peru and Chile. In line with the group’s commitment to the UN Sustainable Development Agenda, Sinia Renovables covers the following objectives, among others:
- Increase in the proportion of renewable energies
- Environmental waste management
- Investing high value-added sectors
- Increased contribution of industry to employment
- Reconversion of industries to make them sustainable
- SME growth
- Improving the air quality in cities
