| Project Detail |
The project concerns the deployment of electric vehicles charging stations across a network serving both Spain and Portugal. The infrastructure will consist mostly of ultra fast charging service stations.
Additionality and Impact
The project concerns the deployment of a high power charging network across Portugal and Spain. The main goal of the project is to contribute to accelerating the transition towards road transport electrification. It fits within a wide range of European policy measures aimed at achieving a more sustainable and lower carbon emissions transport sector such as the EU Green Deal and the Sustainable and Smart Mobility Strategy.
The project contributes to mitigate transport negative externalities in the form of the reduction of GHG and air pollutants emissions (Nitrogen Oxides, Particulate Matter) through the electrification of road transport. In so doing, the project produces a sound economic return.
The project contributes to the EIBs objectives of sustainable and decarbonised road transport and is consistent with the Banks Climate Bank Roadmap and Transport Lending Policy.
EIB will provide an adequate financing to the borrower, allowing it to further diversify its financing sources. The Bank will provide the company with a longer maturity than available on the market and more aligned with the expected lifetime of the project.
The EIBs contribution to this investment is expected to materially contribute to the Promoters effort to meet its ESG targets and crowd-in investors. EIBs financing would also provide a signalling effect on the soundness and quality of the project, facilitating funding from commercial banks.
Objectives
The aim is to contribute to accelerate the electrification of road transport in Spain, providing high power charging infrastructure on the countrys main roads. By significantly contributing to a cleaner and lower-carbon road transport, the project will achieve a wide range of municipal, national and EU policies. In detail, it will support the overall EU ambition to reduce transport related CO2 emissions by 90% by 2050 compared to 1990, in line with the Paris Agreement, the EU Low-Emission Mobility Strategy (2016) and European Green Deal (2019) objectives. In addition, the project contributes to the EIBs objectives of sustainable transport, decarbonisation, development of TEN-T infrastructure, as well as the EIBs cross-cutting policy objectives of Climate Action and Cohesion.
Sector(s)
Transport - Transportation and storage
Proposed EIB finance (Approximate amount)
EUR 150 million
Total cost (Approximate amount)
EUR 334 million |
