Project finance for Clean Energy

This Capstone project with Banco Bilbao Vizcaya Argentaria (BBVA) will analyze structured finance opportunities emerging within selected U.S. clean energy sectors following the enactment of the One, Big, Beautiful Bill (OBBB) under the second Trump Administration. The OBBB preserved and modified several Inflation Reduction Act (IRA) incentives—maintaining tax credits and investment mechanisms for sectors such as small modular reactors (SMRs), sustainable fuels, geothermal energy, and carbon capture, utilization, and storage (CCUS). It also expanded master limited partnerships (MLPs) to attract greater private investment in advanced nuclear, hydrogen, and geothermal infrastructure.

Through desk research, expert interviews, and policy analysis, the team will evaluate the competitiveness, capital needs, and risk factors shaping these sectors—particularly under FEOC supply-chain limitations and domestic content rules. The final report will recommend priority subsectors and key players for BBVA’s project and infrastructure finance group to target, providing a data-driven roadmap for expanding its clean energy financing portfolio in the post-OBBB policy landscape.