The Emirati investment fund Alterra has signed a partnership agreement with the Spanish financial company Banco Bilbao Vizcaya Argentaria (BBVA SA) to create a new climate joint investment fund. This is reported in a press release from Alterra.
As part of the deal, BBVA joins one of the largest private climate investment projects as a strategic partner of the fund, registered in the Abu Dhabi Financial Center.
BBVA intends to invest $250 million in a new structure, the total value of which is estimated at $1.2 billion. The Fund will adhere to a diversified global investment strategy covering climate change-oriented infrastructure, direct investment and private lending.
In December 2023, the UAE government announced its intention to invest $30 billion in Alterra with the aim of raising $250 billion by 2030. Alterra includes a $25 billion fund to implement global clean energy transition projects and a $5 billion fund to attract investments in underserved markets.
In 2025, Alterra invested in a fund managed by Copenhagen Infrastructure Partners, the Indian clean energy company Evren, and 50 million euros in the Italian Absolute Energy platform.
Alterra is one of the world's largest private investment funds for financing the fight against climate change. Alterra is part of the Abu Dhabi group of investment companies, including Lunate, Mubadala Capital and MGX. The headquarters is located in Abu Dhabi (UAE).
BBVA is a Spanish financial company with headquarters in Bilbao (Spain). The main operating office outside of Spain is located in Mexico City. BBVA's network includes 7.4 thousand branches and serves 81 million customers in 30 countries.
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