EIB Commits EUR 40 Million to Eldrive’s EV Charging Network Expansion
The European Investment Bank (EIB) has pledged a EUR 40 million loan to Eldrive Holding GmbH, facilitating the deployment of more than 8,400 electric vehicle (EV) charging stations in Bulgaria, Lithuania, and Romania within the next three years.
Substantial Investment for Widespread Impact
Eldrive Holding, under the control of Bulgarian investors, intends to invest approximately EUR 146 million in installing 4,376 new EV charging stations in Romania, 2,575 in Lithuania, and 1,530 in Bulgaria. The initiative builds on the company’s existing network of over 1,200 EV charging points across the three countries.
InvestEU Program Fuels Project Growth
The agreement between EIB and Eldrive is supported by the InvestEU program, aiming to stimulate more than EUR 372 billion in additional investment from 2021 to 2027. This strategic collaboration aims to address the limited market penetration of electric vehicles and charging infrastructure, aligning with the EU Green Deal’s objective to have 1 million public EV chargers and alternative fuel stations across the EU Member States by 2025.
EIB’s Commitment to Sustainable Transport
EIB Vice-President Kyriacos Kakouris emphasizes the significance of the project, highlighting the transport sector’s impact on greenhouse gas emissions. The transition to e-mobility is crucial for reducing emissions and air pollution, requiring a robust infrastructure. The EIB’s support for new EV charging networks aligns with its commitment to advancing sustainable transport in Bulgaria, Lithuania, and Romania.
EV Charging Sector Gains Traction under REPowerEU
Recognizing the pivotal role of EV charging, the EIB’s initiative to support REPowerEU includes additional backing for projects in this sector. With an extra EUR 45 billion committed for REPowerEU-aligned projects, the EIB aims to contribute significantly to Europe’s shift away from fossil fuel dependence.
Source：romania-insider.com
