Envision Energy has entered into a $500m (3.42bn yuan) vendor financing agreement with BBVA Corporate & Investment Banking (BBVA CIB) to fund its international business activities across Europe, Asia and Latin America.<\/p>\n
The agreement provides the green technology company with access to various financing instruments, enabling early identification of funding opportunities and extending payment terms for its clients.<\/p>\n
Through this arrangement, Envision Energy aims to facilitate capital management and support its customers\u2019 engagement in large projects.<\/p>\n
The agreement continues the collaboration between Envision Energy and BBVA CIB. It follows a $600m (\u20ac513.18m) sustainability-linked syndicated loan agreement signed in Hong Kong earlier in the year where BBVA acted as a mandated lead arranger.<\/p>\n
The new vendor financing arrangement allows Envision Energy to further its business in multiple regions and respond to demand from international financial institutions for green technology initiatives.<\/p>\n
Envision Energy intends to use advisory services embedded in the programme throughout project stages to support expansion and address capital requirements. This financing structure aims to aid working capital flows and assist the company\u2019s clients in managing project costs efficiently.<\/p>\n
Envision Energy senior vice-president and EU and LATAM Regions president Henry Peng said: \u201cThis vendor financing programme with BBVA enables us to optimise working capital while supporting the faster deployment of our renewable energy technologies across strategic markets in Europe, Asia and Latin America.<\/p>\n
\u201cBy combining advanced clean energy technologies with innovative financial solutions, we are helping accelerate the transition toward a net-zero energy system and a new era of sustainable prosperity.\u201d<\/p>\n
Both parties stated that the programme reflects ongoing confidence in Envision Energy\u2019s project delivery and global growth plans.<\/p>\n
BBVA CIB global transaction banking head Eva Rubio said: \u201cThis agreement also strengthens our support for the international expansion of companies such as Envision Energy, leaders in the development of clean technologies.\u201d<\/p>\n
In January, Envision Energy entered into an agreement<\/a> with Vietnam\u2019s REE Group to provide turbines for a 128MW nearshore wind project in Vinh Long Province.<\/p>\n