The European Investment Bank (EIB) is backing Spanish company Wenea with €50 million so an investment of around €100 million in total can be carried out to increase long-distance mobility in Spain by installing a host of electric vehicle charging stations alongside many of its motorways.
Wenea, itself part the Madrid-based Diggia Group, which provides various services for electric vehicles, intends to deploy over 470 charging stations for electric vehicles across Spain by the end of 2022.
The project is expected to contribute to reducing CO2 emissions by some 31,000 tonnes a year (and create jobs along the way).
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).
EIB VP Ricardo Mourinho Félix, who is responsible for the Bank's operations in Spain, said: "Transport is the second-largest source of global greenhouse gas emissions and, therefore, the decarbonisation of this sector is key to achieving climate neutrality by 2050. A lack of EV charging points is one of the major deterrents to the adoption of electric vehicles. This is why, as the EU climate bank, we are delighted to back Wenea in this endeavour that will strengthen long-distance clean mobility and boost job creation in Spain, contributing to a sustainable and inclusive revival of the Spanish economy."