Iberdrola to invest EUR 150m in EV charging infrastructure

Spanish energy giant Iberdrola SA (BME:IBE) announced today it will invest EUR 150 million (USD 170.5m) to install 150,000 electric vehicle (EV) charging stations over the next five years under the updated sustainable mobility plan.

The roll-out will take place mainly in Spain, where Iberdrola originally planned to install 25,000 charging points at households, businesses and on public highways by 2021. These locations are still targeted under the five-year plan, but as Iberdrola’s ambitions grew bigger, the strategy will now extend to the company's international markets, such as the UK, Portugal and Italy.

The plan for Spain’s motorways includes the installation of 350-kW ultra-rapid stations every 200 kilometres (124.3 miles) and 150-kW super-rapid stations every 100 kilometres, while 50-kW rapid stations will be 50 kilometres apart.

Drivers using Iberdrola’s charging network can charge their vehicles with 100% green power from clean sources with renewable Guarantee of Origin (GoO) certificates, the company said.

Through a mobile phone application, drivers can find out information on all charging stations in Spain, regardless of whether they are managed by Iberdrola or another operator.

(EUR 1.0 = USD 1.14)

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