Bilbao Port Authority, moving forward in all the activity lines of its 2023-2026 Strategy Plan

• The Plan sets very ambitious targets with a particular focus on progress in sustainability, including projects such as the electrification of the docks using renewable energy sources, and the reduction of the carbon footprint in the port environment. 

• The 92% occupancy rate boosts work on the second phase of the Central Breakwater to accommodate new projects to provide traffic and jobs. 

The Bilbao Port Authority is moving towards meeting the objectives set out in its 2023-2026 Strategy Plan, which was drawn up after a strategic reflection with more than 70 representatives of the Port Community and stakeholders, and which has been described as “very ambitious”. At the halfway point of the Plan, an analysis has been made of the degree to which the Plan was delivered in 2024, from which it can be seen that significant progress is being made in all defined lines of activity, mainly in environmental and economic-financial sustainability, and in people, knowledge and talent. 

The value proposition of the Bilbao Port Authority is rooted in three premises, as shown below: 

1. Green Port. To drive and support the Port’s customers in their efforts to address the impact of the energy transition. 

2. Competitive Port. To sustain the competitiveness of the region’s industry, adapting infrastructure and services to its needs and requirements. 

3. Responsible Port. To step up efforts to contribute to the social and economic environment, ensuring the value of the Port to society. 

To this end, five key areas of activity were defined (three external and two internal) encompassing the 80+ lines of action to be taken forward during the life of the Plan. The results obtained in each area are satisfactory, taking into account the demanding nature of the Plan and the economic and geopolitical situation. The trend in each of these areas is described below: 

1. ENVIRONMENTAL BENCHMARK. 

In recent years, the Bilbao Port Authority has carried out thirteen actions in the field of energy transition. Stand-out examples in 2024 include the approval of the investment and commencement of work to deploy an OPS (electrification of the docks) system, the refuelling of LNG-powered vessels, the supply and installation of efficient LED technology in port street lighting, and the good practice agreements in force with concession holders. 

Likewise, air quality has been improved and the carbon footprint in the port environment has been reduced, with a reduction of 27% in both cases. Finally, the Port Authority continues to work on developing an energy model of self-sufficiency in renewable energy, promoting green hydrogen and collaborating with the Water Consortium in the connection of the terminals to the sewerage network. 

Regarding the development of the electrification of the docks, the first phase is already underway and will be completed in early 2026, requiring an investment of 4,477,694 euros co-funded by a grant of 4.3 million euros from the Recovery and Resilience Facility. 

The second phase has been put out to tender for 55.4 million euros and the deadline for submitting applications was 18 February. These works will be co-funded by the Connecting Europe Facility (CEF Funds) and the Port Authority of Bilbao itself. In addition, a loan of 80 million euros has been secured from the European Investment Bank (EIB), part of which will be used to finance this project. This second phase will be ready in 2027. The energy consumed will come partly from renewable energies, such as PV solar panels, the project for which is currently out to tender for 15.6 million euros. 

2. SMART SPECIALISATION AND VALUE CREATION 

Results in this second activity area, mainly linked to business and traffic, have been very positive. 34.4 million tonnes of goods were exported or imported through the Port of Bilbao in 2024, up by more than 1.6 million tonnes on 2023 figures, without taking into account local traffic and provisioning. In percentage terms, growth in the Port of Bilbao stands at +5%, higher than the average of the 48 ports considered to be of general interest, which stands at +2.7%. 

3. DIFFERENTIAL SERVICES AND INFRASTRUCTURE. 

This third activity area focuses on increasing the provision of high added value services for customers. To this end, the Port Authority monitors and promotes the development of infrastructure and land connections with a view to increasing intermodality as a vital and critical service for the Port and the region. In relation to digitalisation, the roadmap and innovation projects aligned to the strategy of the Port Authority continue. 

Meanwhile, the degree of land occupation of the Port at the close of the financial year 2024 stood at 92%, a figure which rises to 97% if the surface areas committed to in 2025 are also included in the calculation. These figures limit the Port’s growth options: consequently, to alleviate this, the Bilbao Port Authority is investing 55.14 million euros in the second phase of the Central Breakwater, work on which began in the last quarter of 2024 and will be completed in 2027. 

The works consist of the creation of 1,011 m of new mooring line distributed over two new docks (Dock A-3 and Dock A-4) that will generate a surface area of some 310,000 m2. For the construction of these docks, 18 reinforced concrete caissons will be built and anchored, forming a vertical wall intended to provide the new mooring line and to contain the fill of the future concourse. The filling material of the dock will be a clear example of circular economy. On the one hand, it will come from the material obtained from maintenance dredging and, on the other, from the surplus materials from the works on the Lamiako Subfluvial Project and the Southern Railway Bypass. 

4. PEOPLE, KNOWLEDGE AND TALENT. 

The Bilbao Port Authority has met its targets for developing future capacities, ensuring knowledge transfer and attracting new talent. The number of cross-cutting projects conducted internally to promote a collaborative and customer-oriented culture, training programmes in critical areas of knowledge such as digitalisation, energy transition and project-based work methodology, as well as compliance with the internal and external corporate communication plan and, lastly, the events held with academic sectors, are to be highlighted in this respect. 

5. ECONOMIC AND FINANCIAL SUSTAINABILITY. 

The fifth and last key activity area is focused on maintaining a healthy economic-financial balance so as to continue to develop port infrastructure and provide the Port with new services. In this respect, target delivery is highly satisfactory. In 2024, turnover stood at 76.7 million euros, up from 68.7 million euros in 2023, an increase of +11.60%. The debt with the European Investment Bank amounts to 35.6 million euros, and cash balances total 67.8 million euros. The resources generated (Ebitda) stand at 37.4 million. 

Author: Bilbaoport

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