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Iberdrola to Install 2,500 Public Charging Points in Spain & Portugal

Auto News - Published on Mon, 28 Sep 2020

Image Source: Iberdrola Charging Points
Iberdrola has signed a new green loan with the Official Credit Institute for EUR 59.4 million to speed up the roll-out of its sustainable mobility plan, which aims to install 150,000 charging points in homes, companies and public roads over the next five years, in line with its green recovery strategy. In this case, the funding will allow Iberdrola to strengthen its roadside charging network in Spain and Portugal with up to 2,500 new points.

The funding signed with ICO, with nine-year maturity, is the fourth green loan that the Institute has granted to the Spanish company to bolster the production and the use of energy from renewable, non-polluting sources. As part of its sustainable mobility plan, electric vehicle users who charge their vehicles at Iberdrola points will do so with 100% clean energy that comes with a Guarantee of Origin certificate. They can also count on a green certificate from G-Advisory External link, opens in new window, which has issued its second party opinion.

The Iberdrola electric mobility plan, aligned with its green recovery strategy, also has the support of the European Commission in the form of a EUR 13 million subsidy, granted to the company by the Innovation and Networks Executive Agency as part of the CEF Transport Blending Facility call, which will help to finance the installation of 2,339 fast, super-fast and ultra-fast electric vehicle charging points in Spain and Portugal by 2023. These new stations will be located on high-capacity roads in the two countries and close to the trans-European transport network TEN-T.

The company has unveiled a sustainable mobility plan, with an investment of EUR 150 million, with which it will increase its roll-out of electric vehicle charging points in the coming years. The initiative entails around 150,000 charging points in homes, companies and on the public road network in cities as well as on the main motorways and highways over the next five years. The commitment to deploying high efficiency charging points will see the company install ultra-fast (350 kW) charging points every 200 kilometres, super-fast ones (150 kW) every 100 kilometres, and fast (50 kW) charging points every 50 kilometres.

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Posted By : Yogender Pancholi on Mon, 28 Sep 2020
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