Banco Multiva to Deploy MX$170 Billion in ESG Projects

Banco Multiva will allocate MX$170 billion through 2028 to finance energy transition, water infrastructure and sustainable transport projects, aligned with the National Energy Plan and Comisión Nacional Bancaria y de Valores ESG guidelines. The strategy includes a landmark MX$2.13 billion credit for distributed generation and battery storage, addressing Mexico’s need for decentralized, resilient energy systems and infrastructure modernization.

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Banco Multiva announced plans to allocate MX$170 billion (US$10.1 billion) over the next three years to finance sectors including energy, transport, and water infrastructure.  This initiative aligns with a broader trend identified by the National Banking and Securities Commission (CNBV), which has gained momentum through the introduction of new ESG-related regulations. The bank’s strategy seeks to channel resources toward projects linked to the energy transition — specifically distributed generation, renewable energy, and energy efficiency — as well as urban infrastructure and transport.

“Sustainability is no longer seen as a trend, but as a strategic pillar of institutional competitiveness. In fact, just over a year and a half ago, we established a dedicated sustainability division to integrate ESG criteria into the bank’s core strategy,” explained Britzia Silva, Sustainability Director, Banco Multiva.

To manage a growing pipeline of thematic bond issuances, the bank has developed internal tools such as its environmental and social risk management system, aligned with international frameworks including the Equator Principles, to mitigate financial, legal, and reputational risks. However, the bank noted that the deployment of these resources faces challenges, including the uneven maturity of companies in adopting sustainability criteria and the need to accelerate evaluation processes without compromising technical rigor.

“I think there is a positive message at the country level because these regulatory instruments have advanced significantly in sustainability terms, but there are also challenges related to timelines, institutional capacity, and coordination across stakeholders to structure these financings efficiently,” Silva said.

The potential of the MX$170 billion allocation depends on the financial ecosystem's capacity to structure projects under robust and standardized frameworks. Multiva, acting as a capital intermediary, aims to bridge knowledge gaps and accelerate the adoption of sustainable finance instruments across strategic sectors.

Distributed Generation Through SLB Transactions

Advancing Mexico’s energy transition has become a key focus for Banco Multiva through its sustainability-linked and green financing transactions. In November 2025, the bank worked with BANCOMEXT to finalize a MX$2.13 billion (US$119.8 million) credit facility for Energía Real to finance distributed generation projects combining solar and battery storage technologies. The 15-year credit represents the first financing structure in Mexico to integrate both technologies within a single project finance scheme.

The loan supports approximately 500 on-site generation projects currently in operation, development, or construction. The initiative aligns with the federal government’s National Energy Plan, which promotes a decentralized and more resilient energy model. For Banco Multiva, which acted as the agent bank in the transaction, the deal served as a practical application of its specialized sustainability capabilities.

“It was an unprecedented milestone, as it was the first green syndicated loan and also the first in which the sustainability area participated as a dedicated advisory unit within the bank, supporting clients in the evaluation of environmental and social impact,” Silva noted.

Energía Real operates the largest distributed generation portfolio in Mexico, with 200 MW of installed capacity and more than 150 clients. Its projects include solar plants, storage systems, qualified supply services, and smart metering infrastructure. Pablo Linares, CFO, Energía Real, stated that the financing reinforces the role of distributed, renewable, and digital energy solutions in Mexico’s evolving energy landscape.

The credit was certified as a green loan by an independent international advisor and complies with the Equator Principles, International Finance Corporation (IFC) Performance Standards, and Mexico’s sustainable taxonomy. Roberto Lazzeri, Director General of BANCOMEXT, emphasized that the transaction enables companies to access cleaner electricity while supporting nearshoring strategies through more competitive and sustainable energy costs.

Tamara Caballero, CEO, Banco Multiva, stated that the project positions the bank as a key player in Mexico’s sustainable finance ecosystem and reflects its long-term vision for the energy sector.