On Tuesday, 18 April, Budimex, together with representatives of the largest shareholder: Gonzalo Nieto Mier (CEO of Ferrovial Energy Infrastructure and Mobility), Armando Zuluaga (CEO of Ferrovial Energy and Infrastructure), signed a shareholders’ agreement establishing a new joint-venture company BXF Energia. It is a joint project of Budimex and the Spanish Ferrovial. Budimex will have a majority stake in the new entity (51 per cent).
BXF Energia will implement the Budimex Group’s diversification strategy by developing a new area of its operations. The company’s task will also be to produce green energy for the needs of external customers and the Budimex Group, which will only strengthen its sustainable development.
So far, we have focused on M&A transactions and acquiring power plants in the ready-to-build phase. We want to operate on a large scale, because this kind of commitment is needed today not only by our Group, but also by the national energy transition. It is also an opportunity to fully use the potential and resources of Budimex locally, with the involvement of international capabilities and experience in RES investments of the Ferrovial Group – says Artur Popko – President of Budimex SA.
Our goal for the next 5 years is to have 500 MW of wind and photovoltaic projects already in the construction and operation phase. In the short term, we would also like to put in order the RES projects started as part of Budimex,” adds the President of Budimex.
Presence in the energy sector is also to financially stabilize the construction part.
Diversification of our portfolio with another area and business model is also an element of balancing the Group’s operations based largely on short investment cycles, depending on the availability of m.in. Measures Public. RES projects, on the other hand, are long-term investments, allowing for a stable allocation of capital. We also see this approach as an element of responsibility in business – adds the President of Budimex SA.
The aim of the new entity on the market will be to invest in and carry out energy projects based on low-emission production.
BXF Energia’s core business will include the acquisition and development of large-scale photovoltaic and wind projects at various stages of advancement. We want to be part of the entire value chain – from land exploration to development and construction to plant management and energy production. This is not a closed catalogue – we will be closely watching the development of new technologies – says Piotr Świecki – President of BXF Energia
The company’s goal for the next 5 years is to have approx. 500 MW of power. At current energy prices, the estimated annual turnover of the company is about PLN 300 million. Comparing this result to the scale of the Budimex Group’s operations, it is not a revolution, but we can talk about a significant share coming from the sector that has a dominant impact on shaping the economy and the market. This is our investment in the future,” adds Piotr Świecki.
The establishment of BXF Energia is not the first example of sustainable activities of the Budimex Group. Budimex already has m.in in its portfolio. two RES projects purchased in the ready-to-build formula – a 7 MW wind farm under construction in Drachów and a 14 MW photovoltaic farm in Mszczonów. At the same time, at various stages of development, Budimex has a portfolio of about 120 MW in photovoltaics and 110 MW in wind energy.
