2024-05-17
On Tuesday, 18 April, Budimex together with representatives of the largest shareholder: Gonzalo Nieto Mier (CEO Ferrovial Energy Infrastructure and Mobility), Armando Zuluaga (CEO Ferrovial Energy and Infrastructure) signed a shareholders’ agreement establishing a new joint-venture company BXF Energia. It is a joint project of Budimex and Spanish Ferrovial. Budimex will have a majority stake in the new entity (51%).
BXF Energia will implement the strategy of diversification of the Budimex Group by developing a new area of its activity. The company’s task will be also to produce green energy for the needs of the external clients 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-built 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 transformation. 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 capacity already in the construction and operation phase. In a short time, we would also like to organize RES projects started as part of Budimex – adds the President of Budimex.
The presence in the energy sector is also to financially stabilize the construction part.
Diversification of our portfolio by another area and business model is also an element of balancing the Group’s operations, based to a large extent on short investment cycles, depending on the availability of m.in public funds. RES projects, on the other hand, are long-term investments, allowing for a stable allocation of capital. We also perceive 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 and run energy projects based on low-emission production.
The main areas of BXF Energia’s activities will include the acquisition and development of large-scale photovoltaic and wind projects at various stages of development. We want to participate in the full value chain – from land exploration, through development and construction, to plant management and energy production. This is not a closed catalogue – we will carefully look at 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 in the construction and operation phase. 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, this is not a revolution, but we can talk about a significant share coming from the sector, which have a dominant impact on shaping the economy and 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 in its portfolio m.in two RES projects purchased in the ready-to-built formula – a wind farm with a capacity of 7 MW, which is being built in Drachów and a photovoltaic farm in Mszczonów with a capacity of 14 MW. 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.
