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HomeLatest NewsIberdrola and BP obtain 50 million from Europe for electric charging points

Iberdrola and BP obtain 50 million from Europe for electric charging points

Date: May 20, 2024 Time: 03:27:08

The firm resulting from the coalition between Iberdrola and BP, Iberdrola BP Pulse, has obtained a subsidy of 50.1 million euros from the program promoted by the European Commission CEF Transport AFIF 2021-2027. The objective of the aid is the installation of 1,220 high-power electric charging points for vehicles in Spain and Portugal during the period 2023-2026. Specifically, there are 206 fast charging points (more than 150 kilowatts) and 1,014 ultra-fast charging points (more than 350 kilowatts), as reported by both companies in a statement.

Funding will come from the Alternative Fuels Infrastructure Fund (AFIF), which is part of the European Interconnection Facility (MIE), whose purpose is to support the objectives of the new regulation for the deployment of alternative fuels infrastructure (AFIR a) throughout of the European transport network (TEN-T).

50% pact

In this way, the subsidy is intended to finance the “ambitious” strategic plan that the joint company began on December 1. Iberdrola BP Pulse is a 50/50 alliance between Iberdrola and BP for the deployment of fast and ultra-fast public charging infrastructure for electric vehicles in Spain and Portugal.

The joint company plans to deploy 5,000 fast and ultra-fast public charging points by 2025 and 11,700 by 2030, investing 1 billion euros to do so. At the same time, he has stressed that this award is a “decisive step” to advance its objectives, allowing the company to deploy the “most extensive high-power public charging network in the Iberian Peninsula.”

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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