BBVA and Caixabank will finance with 55 million – 50% each – the construction of the Six Senses Ibiza hotel, for which Beachbox Hotelco has formalized the first sustainable ‘project finance’ in Spain in the hotel sector.

The independent consultant Arup issued the evaluation report favorable to the company’s sustainability performance indicators, as well as compliance with the Green Loan Principles of the project. This document certifies the operation as a green loan, in this case in ‘project finance’ format.

The project consists of a complete remodeling of the previous hotel, the Vista Bay in Portinatx, and aims to enhance the search for new market segments, in addition to improving the quality, supply, safety, accessibility and environmental sustainability of the establishment tourist. The project will also have the certificate of sustainable construction of reference at international level.

The project manager for Beachbox Hotelco, Nacho Muelas, has pointed out that the actions in this hotel are oriented «decidedly towards sustainability», a commitment that is completed «with access to this sustainable financing».

For his part, the head of structured financing for hotel and commercial real estate projects at BBVA, Borja Buades, said they «are pleased to accompany Beachbox Hotelco and Six Senses in their commitment to sustainable finance.»