The European Bank for Reconstruction and Development (EBRD) is giving a €15 million shot in the arm to Eldrive, a major electric vehicle (EV) charging station operator in Bulgaria, Lithuania, and Romania. This investment aims to significantly expand the EV charging infrastructure in these countries.
Eldrive currently manages around 900 charging stations. With the EBRD’s backing, they plan to install and operate an additional 7,400 by 2028. This will greatly improve the availability of EV charging options for drivers in the region.
The EBRD is not going it alone. They’ll be working alongside Eldrive’s owner, Renalfa Solarpro Group, for the initial phase of development. Additionally, the European Investment Bank (EIB) is providing a €40 million loan to support the project.
This initiative aligns with the European Union’s push for cleaner transportation. The goal is to have one million public EV charging stations across the EU by 2025, with that number tripling by 2030. Currently, eastern and southern Europe lag behind western countries in terms of charging station availability.
“This is a significant first for the EBRD,” said Sue Barrett, EBRD Director for Infrastructure. “We’re excited to support Eldrive’s growth and help speed up the switch to electric vehicles in Europe.”
Eldrive CEO Stefan Spassov is thrilled about the partnership. “Being the first charging point operator to receive this type of investment validates our strategy and vision,” he remarked. “This is a win not just for Eldrive, but for the entire European electric mobility sector.”
This project goes beyond just adding charging stations. It’s a crucial step towards reducing emissions in the transport sector, a major source of air pollution. The EBRD, a leader in climate finance, is committed to supporting such initiatives throughout the region.
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