Eldrive expands EV stations in Romania
Summary
The European Investment Bank (EIB) has signed a 40 million loan to the Austrian-registered Eldrive Holding GmbH to install 8 472 electric vehicle (EV) charging stations in Bulgaria, Lithuania and Romania over the next three years. The project supports clean mobility and the EU Green Deal goals for sustainable transport and decarbonisation.This agreement is backed by the InvestEU programme, which aims to trigger more than 372 billion in additional investment between 2021 and 2027. The InvestEU programme mobilises investment for EU policy priorities like the green transition, competitiveness, innovation and sustainable infrastructure.With InvestEU and the EIBs financial support, Eldrive Holding plans to invest about 146 million to deploy 4 376 new EV charging stations in Romania, 2 575 in Lithuania and 1 530 in Bulgaria, accelerating the infrastructure rollout needed to develop clean transport in these three countries, and supporting the transition to climate neutrality.The project will improve the low market penetration of electric vehicles and charging points in the three countries, and help them deliver on the EU Green Deal objective of having one million public EV chargers and alternative fuel stations spread across the 27 Member States by 2025. These EV charging networks will underpin the shift to electric vehicles and reduce greenhouse gas emissions and air pollution in urban areas of Bulgaria, Lithuania and Romania.This is a very important project, said EIB Vice-President Kyriacos Kakouris. Having the EIB as a partner on this project will help us quickly and effectively expand our network and become one of the leading charging point operators in Europe, said Eldrive CEO Stefan Spassov.