Spanish EV charging operator Zunder receives €40m from the EIB to accelerate electrification of road transport

Spanish EV charging operator Zunder receives €40m from the EIB to accelerate electrification of road transport

Published: 16-02-2023 13:34:00 | By: Pie Kamau | hits: 5197 | Tags:

The EIB and Zunder, an independent ultra-fast charging infrastructure operator for electric vehicles (EVs) in Spain, have signed a loan of €40 million in order to finance the installation of a network of fast chargers and ultrafast along the Trans-European Transport Network (TEN-T) in Spain. The project is aligned with the EU policies for sustainable transport and low-emission mobility. 

The operation will accelerate the electrification of road transport in Spain to avoid the emission of close to one million tons of CO2 until 2031. The project contributes to the cohesion objectives of the EIB since a large part of the network is expected to be installed in cohesion regions of the EU. The initiative is financed under the "Future Mobility" product, within the framework of the Connecting Europe Facility (CEF).

Ricardo Mourinho Félix, Vice President, EIB: " We are pleased to join forces with Zunder in a project that promotes electric mobility in Spain. Investing in infrastructures that facilitate electromobility breaks down barriers to the implementation of electric vehicles, contributing to the decarbonisation of transport, a sector that generates the most greenhouse gas emissions. As Banco del Clima, we support projects that accelerate the transition towards more sustainable mobility, and this operation not only meets this priority, but is also synonymous with innovation and job creation." 

With the €40 million loan from the EIB, Zunder will continue with its development plan and accelerate the electrification of road transport in Spain, avoiding close to 1 million tons of CO 2 in the 2023-2031 period. All this within the objectives of the EU such as decarbonization, sustainable transport and the development of infrastructure in the TEN-T. 

In this way, Zunder's plan to build more than 4,000 ultra-fast charging points in southern Europe is boosted thanks to this financial support from the EIB in Spain, shortening deadlines and increasing projects within its expansion plan. 

It is expected that a large part of the chargers will be installed in regions considered cohesion by the EU, those with a gross domestic product (GDP) per capita lower than the EU average, such as Castilla y León, where the company Zunder has its headquarters in the city of Palencia. Therefore, this operation shows the commitment of the EIB when it comes to prioritizing the promotion of projects in these regions of Spain and Europe, contributing to the cohesion and regional development objectives of the European Investment Bank. 

Adina Vălean, European Commissioner for Transport, European Commission: ''Large-scale initiatives of this profile are precisely what we contemplate when we include in our Sustainable and Intelligent Mobility Strategy the ambition to have at least one million public charging points on our roads. by 2025. We are committed to accelerating the transition to sustainable mobility. Our aim is to increase investment not only through the Connecting Europe Facility but also with the EIB through the InvestEU programme.''

Daniel Pérez, CEO, Zunder: "This association between Zunder and the EIB is one more boost to be able to expand ultra-fast charging and be part of the change that the way we move is experiencing and, in addition, contribute to the decarbonisation process in Europe.''