BBVA Corporate & Investment Banking (CIB) continues its strategic expansion in the United States and has appointed Jorge Colmenares as Managing Director of Tax Credit Monetization, based in New York. This addition to the Spanish bank reinforces BBVA’s commitment to delivering innovative financing solutions and strengthens its growing presence in the U.S. renewable energy sector.
Through this new unit, BBVA will offer specialized capital-raising and structured financing solutions tied to energy tax credits—an increasingly relevant asset class amid the evolving regulatory and investment landscape in the U.S., the bank said in a statement.
Jorge Colmenares has over 25 years of experience in project finance, renewable energy, and tax credit advisory. He joins from Citibank, where he led the clean energy financing division. Previously, he held a senior position at GE Capital and also advised on a wide range of renewable energy transactions in the United States.
In his new role at BBVA, Colmenares will lead the origination and structuring of tax equity transactions and other related financings, under the leadership of Philip Schubert, Head of Investment Banking & Finance for BBVA in the United States.
“We are pleased to welcome Jorge at a pivotal moment in our growth in the U.S.,” said Philip Schubert. “His extensive experience in tax credit monetization and deep knowledge of the renewable energy market will be essential in strengthening our strategic relationships with institutional and corporate clients, providing tailored solutions that support their investment goals,” he added.
The hiring of Colmenares aligns with BBVA’s global strategy to establish specialized teams in key global markets and to enhance its capabilities in project finance, securitized products, and balance sheet solutions.
