- ICO is granting this green loan to help finance half of this project, with investments totalling 300 million euros over the period 2023-2026
- This investment will enable Cepsa’s ultra-fast charging network to provide 150kW and 300kW charging points on all major corridors and roads in Spain and Portugal
In this way, the energy company is promoting the electrification and decarbonisation of road mobility, accelerating the transition to a more sustainable model, one of the objectives of the Recovery, Transformation and Resilience Plan.
During the signing ceremony, the CEO of Cepsa, Maarten Wetselaar, highlighted: "ICO's support is an incentive for us to continue developing an extensive ultra-fast charging network at our service stations in Spain and Portugal, which will boost user demand by allowing them to make intercity trips in electric vehicles without delaying their journey due to charging time. At Cepsa, we are committed to ultra-fast charging to make electric mobility a reality.”
ICO Chairman José Carlos García de Quevedo said: "This transaction is part of the ICO's strategy to prioritise financing for projects that have a positive social and environmental impact, in line with the objectives of the Recovery Plan. The loan granted to Cepsa is a new step in this direction, supporting sustainable mobility and the creation of infrastructures accessible to all citizens".
ICO's funds will enable Cepsa ultra-fast charging network to provide 150kW and 300kW charging points on all major corridors and roads in Spain and Portugal. The company currently has more than 130 ultra-fast charging points installed and is developing a further 330, with the aim of offering this type of charger at most of its service stations by 2030.
The transaction signed today qualifies as a "green loan" under the Green Loan Principles (GLP) of the LMA (Loan Market Association). This loan is in addition to the 150 million euros in financing granted by the European Investment Bank (EIB) at the end of 2023, which will enable Cepsa to carry out an estimated 300 million euros in investments over the period 2023-2026.