The European Investment Bank (EIB) and Wenea, via Nordian CPO, have entered a collaboration to deploy more than 470 charging stations for electric vehicles in Spain.

Nordian CPO is a Spanish company that is owned by Diggia Group, which provides services for electric vehicles (EV).

As part of this initiative, EIB has agreed to provide €50m to Wenea via Nordian CPO, enabling the Spanish company to invest €100m to enhance long-distance mobility in Spain.

More than 470 fast and ultra-fast charging stations along the Spanish motorways, including Trans-European Transport Network (TEN-T), will be deployed.

The installation of charging stations for electric vehicles across the country will be completed by the end of 2022.

Diggia Group CEO José Manuel Zorrilla said: “The EIB’s support enables us to make a qualitative step forward with Wenea, providing coverage to charge EVs and thus ensuring excellence as an independent player focused on our passion – serving electric vehicle clients, who contribute to the sustainability of the planet by reducing CO2 emissions.

“We expect this operation with the EIB to be the first of many deployments that we intend to undertake in the European Union.”

EIB will be financing the project through the Future Mobility facility, which is supported by the Connecting Europe Facility and the European Commission’s NER300 Programme.

The charging stations will have a power capacity ranging between 50kW and 150kW, and 25% of these stations will be deployed in less populated areas to offer complete coverage to EV drivers.

It is expected that the project will offset 31,000tpa of carbon emissions.

EIB Span vice-president Ricardo Mourinho Félix 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.”