CaixaBank boosts sustainable energy through the financing of a waste treatment plant in the United Kingdom

• This is the bank’s first project finance transaction in the energy-from-waste sector in the country
• CaixaBank is strengthening its commitment to its UK branch, from where it financed €8 billion in 2025, 48% more than the previous year

CaixaBank will finance Viridor (backed by KKR and Equitix) for the construction of the Tees Valley Energy Recovery Facility (TVERF), a waste processing plant located in the Tessworks industrial zone in Redcar, around 50 miles from the city of York, in north-east England (United Kingdom). 

The plant is designed to process waste from seven local authorities in north-east England, with the capacity to convert up to 450,000 tonnes of waste per year into 49.9 MW of sustainable electricity, thereby promoting energy recovery from waste and supporting the circular economy. The facility is expected to become operational from 2030.

This transaction represents CaixaBank’s first project finance operation in the waste-to-energy sector in the United Kingdom, led by the CIB Structured Finance Team, and forms part of the bank’s broader efforts to promote sustainable energy projects. 

CaixaBank in the United Kingdom

CaixaBank has been present in the United Kingdom since 2003, when it opened its first representative office in London. In 2016, the bank obtained a banking licence, converting the office into a branch authorised to provide a wide range of wholesale financial services, including short- and long-term financing, deposit-taking and international trade services, among others.

The branch closed 2025 with total financing of €8 billion, 48% higher than the previous year. In terms of project finance, the volume arranged in the country in 2025 amounted to close to €1 billion.

The branch has grown significantly in recent years and currently employs 43 people (10 more than in 2025),and plans to increase its workforce by 60% to a target of 54 employees by the end of the 2025–2027 Strategic Plan.

To support team growth and areas of greater specialisation, the bank relocated its offices to 20 Fenchurch Street, the iconic building known as the “Walkie Talkie”.

CaixaBank’s expansion in London underscores its commitment to economic performance and sustainable practices, ensuring a strong and diversified presence in the United Kingdom.