BBVA CIB and Basque Hydrogen have collaborated to secure the first project finance loan for a renewable electrolytic hydrogen plant in Bilbao, Spain. This initiative, announced at the Energy Tech Summit, signifies a significant step towards sustainable energy production. The project, led by Basque Hydrogen, supported by Petronor, Enagás Renovables, and Ente Vasco de la Energía, aims to produce synthetic fuels for transportation. The plant's construction is set to commence before summer, with operations scheduled to start in 2026. BBVA's involvement as the financial advisor and debt coordinator underscores its commitment to the energy transition and sustainability. BBVA's strategic focus on sustainability is evident through its ambitious goal to channel €700 billion between 2025 and 2029 towards sustainable initiatives. Furthermore, the bank's investments in decarbonization funds and partnerships with climate action funds showcase its dedication to innovative climate solutions. The financing arrangement for the hydrogen plant, utilizing a pioneering non-recourse mechanism, reflects BBVA's commitment to navigating the challenges posed by new technologies for decarbonization. The Energy Tech Summit serves as a platform for discussions on sustainable energy models, with BBVA playing a pivotal role in promoting innovation in the cleantech sector.