Bankinter and Spanish Hydrogen Association sign agreement to finance hydrogen projects for companies
AeH2 members can access financing for projects related to the production, marketing or distribution of hydrogen, for a global amount of up to 100 million euros.
The bank will offer member companies a wide range of financial products and services with special conditions.
Bankinter and the Spanish Hydrogen Association (AeH2) have signed a partnership agreement for member companies to access financing for projects related to the production, marketing or distribution of hydrogen as an energy carrier, for a global amount of up to 100 million euros
The agreement, which has been signed by José Javier Brey, President of AeH2, and Ignacio Lozano, Director of the Bankinter Madrid Oeste Organisation, will also allow member companies access to long-term credit facilities and working capital financing, as well as a wide range of financial products and services with special conditions. The agreement includes advice on how to internationalise businesses, a field in which Bankinter is a sector benchmark, investment banking services and transactionality (charges and payments).
Bankinter and AeH2 will also work side-by-side to create meeting spaces (face-to-face or virtual) for the member companies and experts across the hydrogen sector. The agreement embodies the commitment that both organisations have pledged to climate change, and to eventually decarbonise the economy. At the same time they will be creating jobs and boosting economic development, and helping to create an industrial network.
Bankinter is designing a climate change strategy that will guide the transition towards a sustainable economy, helping to adapt and mitigate the effects of climate change. Funding will be given to businesses or activities that promote or undertake renewable energy projects, projects that support the Paris Agreement and initiatives to reduce greenhouse gases.
AeH2 is a non-profit organisation and a benchmark in the hydrogen sector. Since it was founded in 2002, it has fostered the industrial development and growth of hydrogen technologies in Spain, and ensured that this will reap rewards for the country's society and economy. AeH2 works to strengthen Spain's industrial network, creating a favourable climate for hydrogen development and building a strong name for the Spanish industry in the world.
Javier Brey, president of AeH2, explains that “AeH2, which is a benchmark association in the national hydrogen sector, sees this agreement as a perfect opportunity to continue to drive this type of technology in our country. The fact that Bankinter is pledging an interest in hydrogen projects is a sign that we are on the right path and that hydrogen is becoming one of the most promising alternatives for the energy transition and the decarbonisation of the Spanish economy”.
Ignacio Lozano, Director of the Bankinter Madrid Oeste Organisation, says that “it is part of a specific environmental sustainability strategy that the bank has put in place to financially assist companies interested in mitigating the effects of climate change through hydrogen projects".
About Bankinter.
Bankinter is the fifth largest bank in the Spanish financial system and the first in terms of profitability and asset quality. It has more than 100 billion euros in total assets, lendings of 64.6 billion and controlled resources of 106 billion. With a presence in Spain, Portugal, Ireland and Luxembourg, Bankinter bases its strategy on various complementary business lines, one of the main ones being corporate business, with special focus on medium-sized and large enterprises. Its corporate loan book totalled 28 billion euros at the end of March 2021, 8% more than in the same period of 2020.
About AeH2 (www.aeh2.org)
The Spanish Hydrogen Association (AeH2), a non-profit organisation, is the voice and the benchmark for the hydrogen sector in Spain. Since it was founded in 2002, it has striven to promote and drive the development and growth of hydrogen technologies in Spain, with the aim of strengthening and enhancing the country's industrial network. To achieve this it has built a favourable climate for the development of hydrogen in Spain and to create a strong national industry in the international arena. AeH2 represents more than 200 partners across the entire hydrogen value chain, including renewable promoters, equipment and component manufacturers, engineering and EPC firms, Oil &Gas, industrial gas and transportation companies, organisations linked to the sector, and many others. Its partners include the most active companies, institutions and researchers in Spain in these technologies, who have a common interest in achieving the association's main purpose.
