Thursday 2 July 2020

EU bank’s €35m boost to Spain’s EV charging infrastructure

The European Investment Bank (EIB) has launched a new fund to support the installation of 8.5k electric vehicle (EV) charging points in Spain.

The first 2,000 charging points, which will be built by the largest electric utility company in Spain, Endesa, will be installed this year on the main motorway network and in large urban areas, with the aim of covering 15,000 kilometres.

This is expected to provide EV drivers with charging points every 100 kilometres.

The remainder of the stations will be installed gradually in the next three years until 2023.

According to the bank, once they have been installed the charging infrastructure it will prevent the emission of 57,000 tonnes of carbon dioxide CO2 every year.

EIB Vice-President Emma Navarro, said: “The decarbonisation of transport is key to meeting our goal of achieving climate neutrality by 2050."

Endesa CEO José Bogas commented: “Being supported by the EU climate bank guarantees the solidity of Endesa's proposal to revitalise the country. The economy and the environment cannot be separated, economic growth must be sustainable."

European Commission's European Green Deal has set a goal of having one million charging points in the EU by 2025.

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