EIB invests €50 million in Wenea to deploy over 470 charging stations for electric vehicles in Spain

The European Investment Bank (EIB) and Wenea, via Nordian CPO, a company owned by Diggia Group that provides services for electric vehicles, are joining forces to strengthen long-distance and interurban electric mobility in Spain. The EU bank will provide €50 million to Wenea via Nordian CPO, enabling the Spanish company to carry out an investment of around €100 million to increase long distance mobility in Spain.

Concretely, thanks to the EIB support, Wenea will deploy over 470 fast and ultra-fast charging stations for electric vehicles across the country by the end of 2022. The EIB financing is supported under the Future Mobility facility (FM, backed by the Connecting Europe Facility and the NER300 Programme of the European Commission).

The charging infrastructure being deployed consists of over 470 charging stations with Kilowatt (kW) power of between 50kW and 150kW, enabling vehicles to charge between 60% and 80% of their battery in 20 minutes. The majority of the charging stations will be located along Spanish motorways and major roads, including those of the Trans-European Transport Network (TEN-T). An estimated 25% of these will be deployed in less populated areas of Spain (cohesion regions) to offer complete coverage to electric vehicles’ drivers.

The EIB financing contributes to the implementation of the Spanish National Integrated Energy and Climate Plan 2021-2030 (PNIEC), which sets the ambitious target of having five million electric cars and light-duty vehicles on the market by 2030, as well as to supporting future European and national decarbonisation plans.

The deployment of these charging points will bring major environmental benefits while boosting job creation in Spain. According to the EIB’s estimates, the implementation of the project will contribute to reducing CO2 emissions by 31,000 tonnes per year and around 150 people will be contracted to deploy more than 470 charging stations across the country.

Source: EIB