Cepsa taps €150 million to push Iberian e-mobility development
Published on: Oct 13, 2023
The EIB financing will enable the company to deploy more than 1,800 ultrafast chargers in Portugal and Spain.
The European Investment Bank (EIB) granted a loan of 150 million euros to Cepsa for the deployment of more than 1,800 ultra-fast chargers across its fuel retail network in Spain and Portugal.
This initiative is part of the company's strategy to install chargers at most of its service stations within this decade. The funding promotes the electrification and decarbonization of road mobility, accelerating the transition to a more sustainable model and supports Cepsa's 'Positive Motion' strategy for decarbonization.
Currently, the company has more than 130 ultra-fast charging points installed, and is making progress in the development of another 330. Its goal for 2030 is to have this type of charger at over 1,000 service stations.
"In our Positive Motion strategy, the decarbonization of road transport and sustainable mobility play a key role. Therefore, to make electric mobility a reality, we are committed to ultra-fast charging that makes it possible to make intercity trips in electric vehicles without the charging time disencouraging user demand," said Maarten Wetselaar, CEO of Cepsa.
Cepsa is deploying an extensive ultrafast recharging network at its service stations in Spain and Portugal. This initiative includes chargers of at least 150 kW located in the main corridors and roads.
