Iberdrola
Iberdrola ramps up its sustainable mobility strategy. Credit: Iberdrola, S.A.

Iberdrola has signed a green loan with the Official Credit Institute (ICO) for an amount of €59.4m to finance the installation of 2,500 public charging points in Spain and Portugal to strengthen its roadside charging network.

The move rams up Iberdrola’s sustainable mobility strategy, under which the company plans to roll-out 150,000 chargers over the next five years.

The company’s mobility electrification plan also has the support of the European Commission through CEF Transport Blending Facility funds.

The funding signed with ICO has nine-year maturity. It is the fourth green loan that the Institute has granted to Iberdrola to strengthen the production and the use of energy from renewable, non-polluting sources.

ICO is an implementing partner of the CEF programme. The institute helps Spanish firms to secure finance for projects that support environmental sustainability and efficiency of the transport industry.

The company’s mobility electrification plan also has the support of the European Commission through CEF Transport Blending Facility funds.

It will help to finance the installation of 2,339 fast, super-fast and ultra-fast electric vehicle charging points in Spain and Portugal by 2023.

The new stations will be situated on high-capacity roads in the two countries and close to the trans-European transport network.

As part of its sustainable mobility plan, Iberdrola aims to invest €150m to increase its roll-out of electric vehicle charging points in the coming years.

At the end of 2016, Iberdrola signed the world’s first green loan to an energy company and currently has green/sustainable funding of more than €22bn.