Tuesday, July 23, 2024
HomeTransportEBRD to support Eldrive’s expansion plans in Bulgaria, Lithuania and Romania

EBRD to support Eldrive’s expansion plans in Bulgaria, Lithuania and Romania

The European Bank for Reconstruction and Development (EBRD) is making an equity investment of 15 million euros in Eldrive Holding, a leading regional charging point operator in Bulgaria, Lithuania and Romania. By 2028, it will install and operate 7,400 new electric vehicle (EV) charging stations in addition to the 900 it already operates, expanding the EV infrastructure currently available in those countries.

“This is the EBRD’s first equity investment in a charging point operator (CPO) and we are pleased to support Eldrive’s expansion plans in Bulgaria, Lithuania and Romania,” said Sue Barrett, EBRD Director for Infrastructure in Europe, the Middle East and Africa. “We hope this investment will pave the way for many other EV infrastructure investments across the region and help speed up the decarbonisation of the transport sector in Europe.”

“We are excited to welcome the EBRD as an equity investor in Eldrive,” commented Stefan Spassov, Eldrive CEO. “Being the first CPO to receive such an investment makes us proud and shows the potential and resilience of our business strategy and model. This is great recognition not only for Eldrive but for the whole European electric mobility sector.”

The EBRD will invest alongside Renalfa Solarpro Group, Eldrive’s owner, in the first phase of development. The European Investment Bank (EIB) is also providing a 40 million euro venture debt facility.

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