MADRID, Sept 25 (Reuters) - Spain's Energy Minister Teresa Ribera said on Monday that big sovereign funds should lead by example when investing in clean energy and show the way to other investors.

“The best they can do is investing in a clean and efficient energy model,” Ribera told reporters on the sidelines of an event with sovereign funds in Madrid.

“All global financial groups must move in favor of climate security and away from the creation of new climate risks,” she said, which means no investments in new coal projects as well as no funding for new fossil fuel projects “that do not have CO2 capture and are not climate neutral.”

With its sunny plains, heavily dammed rivers and wind-swept hills, Spain is attracting investors to renewable energy projects as the government seeks to meet a target to reduce greenhouse gas emissions by as much as 32% from the 1990 level by 2030.

Foreign energy companies, private equity funds and sovereign funds such as Norway's, have all bought assets or stakes in projects in the industry over the past year.

Other industries in the country such as telecom have attracted sovereign funds and earlier this month, Saudi Arabia's telecom firm STC, which is controlled by a Saudi sovereign fund, said it had built up a 9.9% stake in Spanish rical Telefonica. (Reporting by Pietro Lombardi, editing by Inti Landauro and Bernadette Baum)