Iberdrola and BP have signed a strategic alliance this Thursday to promote the electrification of vehicles in Spain and Portugal. The project will involve an investment of 1,000 million euros to start up
Specifically, the agreement contemplates the installation and operation of 5,000 fast charging points in 2025, reaching nearly 12,000 points by 2030.
From a joint project to a ‘joint venture’ there is only one step
The signing of this alliance represents “a step forward” in the future ‘joint venture’ that both companies announced their intention to set up and which, once they have obtained the necessary regulatory and competition approvals, are expected to be set up in the second half of this year. anus
Once approved, Iberdrola and BP will “significantly” expand the public rapid charging infrastructure for electric vehicles to accelerate the penetration of electric vehicles in Spain and Portugal, according to the Spanish company.
“This strategic alliance allows progress in the electrification of transport as a key element to reduce energy dependence on fossil fuels and increase energy efficiency. With this agreement, Iberdrola and BP contribute to accelerating the use of electric vehicles and to generating gener , stressed the president of Iberdrola, Ignacio Sánchez Galán.
For his part, Bernard Looney, CEO of BP, has highlighted that agreements such as the one reached with Iberdrola “can help people and companies to decarbonise sooner”. “By pooling our resources and expertise, we can deliver lower carbon mobility solutions at scale for our customers,” he added.
They hope to expand to the UK
Both companies are also collaborating to develop joint solutions for public and domestic charging in the UK.
Iberdrola has a public charging infrastructure in Spain and Portugal with more than 3,500 operating points and many others under development, which use renewable energy to achieve the decarbonisation of transport, serving more than 100,000 users.
For its part, BP’s goal is to rapidly expand its EV charging points globally and continue to invest in fast and ultra-fast charging infrastructure. BP’s European network has more than 10,000 charging points, mainly in the UK and Germany.
This alliance will make it possible to use part of BP’s service station network “In this way, drivers of electric vehicles will be able to charge at secure service stations, with access to additional trusted services,” both companies have highlighted.