Its role Investor / Financier
COFIDES is a Spanish public-private development finance company founded in 1988 and based in Madrid. It provides medium- and long-term financing solutions, including equity investments, subordinated loans, and other debt instruments, to viable private sector projects.
The company's main activities center on supporting the internationalization of Spanish enterprises by financing investments abroad. It also manages several state funds on behalf of the Spanish government, such as the Foreign Investment Fund (FIEX) and the Fund for Foreign Investment Operations for SMEs (FONPYME). Additional instruments include the Coinvestment Fund (FOCO) for green and digital transition investments attracting foreign capital to Spain, the Recapitalization Fund (FONREC) for COVID-affected companies, and a Social Impact Fund.
COFIDES operates internationally, having supported projects in more than 100 countries, often in partnership with the Spanish Agency for International Development Cooperation (AECID) through the Development Promotion Fund (FONPRODE). It handles EU blending finance and resources from the United Nations Green Climate Fund, focusing on sustainable development in emerging and developing economies.
Ownership structure features majority public control with the Spanish State holding 53% via ICEX Spain Export and Investment, the Official Credit Institute (ICO), and ENISA, while private shareholders including Banco Santander, BBVA, Banco Sabadell, and CAF hold the remaining 47%.
Positioned as a key player in Spain's development finance sector, COFIDES complements commercial financing with additionality criteria and aligns with public policy goals in internationalization, climate action, and impact investing, similar to other European development finance institutions.
Also known as Spanish Development Finance Company.
chemXplore tracks 1 project involving COFIDES, of which one is active.
First phase delivers 300 MW (option +105 MW), ~45,000 tH2/yr, >€1bn phase investment, €304m public support and an expected >8,000 jobs across the value chain.
First phase includes a 300 MW electrolyser (>€1bn capex), ~45,000 t H2/yr and ~250,000 t CO2 avoided; received €304m public funding and reached FID.
Nearly doubled nine‑month order intake; wins Moeve 300‑MW contract with service package; discontinues SOEC mass‑production, incurring ~€30m one‑time EBIT hit and updating FY26 outlook.
Net income €458m, capex €605m and operating cash flow €762m; leverage fell to 1.2x; groundbreaking for 300 MW Andalusian Green Hydrogen Valley on Sept 17; Galp merger talks continue.
active all projects
