Iberdrola to install 25k EV charging points in Spain by 2021

Spanish utility company Iberdrola SA (BME:IBE) said Wednesday it intends to install 25,000 electric vehicle (EV) charging points at home by 2021.

About 9,000 of the EV charging points will be installed for private companies "that would like to offer this service to their employees or customers", while the rest will be deployed in homes.

The Bilbao-based company says it will supply the electricity from renewable sources, boasting double certification as a guarantee. A night-time electricity plan at a rate of EUR 0.03 per kWh will allow customers to take advantage of lower electricity prices between 0100 AM and 0700 AM, thus driving the price of a 100-kilometre charge to around EUR 0.50, Iberdrola calculates. It further said electric charging could be 10 times cheaper than the use of petrol.

A plan dubbed "Smart Mobility" offers the installation of the charging device and a supply contract tailored for the needs of the customer. As a part of it, the company provides a mobile application to remotely manage the charging infrastructure.

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