Return to News Categories

Cattle - Hogs / Livestock News
Interest Futures News
Metals Futures News
Reports: Crops, CFTC, etc
Soft Commodities News

Futures and Commodity Market News

EIB and Endesa team up to support electric mobility in Spain

Jul 31, 2020 (MarketLine via COMTEX) --

The European Investment Bank (EIB) has entered into a collaboration with Spanish electric utility company Endesa to support the growth of electric mobility in the country.

As agreed, EIB will provide Endesa with 35m in financing for the installation of 8,500 hybrid and electric vehicle charging points across Spain.

Endesa plans to deploy the first 2,000 charging points this year on the main motorway network and key urban areas. The move will provide the electric vehicle drivers with charging points every 100km.

The remaining charging points will be installed gradually by 2023.

An EIB study suggests that the project will create around 600 jobs during the implementation phase and an additional 40 permanent positions.

The expansion of the charging network will facilitate the transition to electric vehicles, which in turn will help in reducing carbon emissions. EIB estimates that the new charging points will help in reducing carbon dioxide emissions by 57,000t annually.

Endesa CEO JosA(C) Bogas said: "Being supported by the EU climate bank guarantees the solidity of Endesa's proposal to revitalise the country: the economy and the environment cannot be separated; economic growth must be sustainable.

"Consolidating Spain's electric vehicle charging network while creating wealth and jobs and cutting emissions is a clear example of this vision."

The European Commission's European Green Deal aims to establish one million charging points in the EU by 2025. To achieve this, Spain needs to increase its charging station network to 120,000 units.

EIB vice-president Emma Navarro said: "The decarbonisation of transport is key to meeting our goal of achieving climate neutrality by 2050.

"This is why we are happy to join forces with Endesa to promote investment in infrastructure facilitating the use of electric vehicles while also contributing to the recovery of the Spanish economy, at an extraordinarily difficult time due to Covid-19."
Republication or redistribution, including by framing or similar means,
is expressly prohibited without prior written consent. Datamonitor shall 
not be liable for errors or delays in the content, or for any actions 
taken in reliance thereon
comtex tracking

Copyright (C) 2020 Datamonitor. All rights reserved

Please read the End User Agreement.
By accessing this page, you agree to the terms and conditions of the End User Agreement.

News provided by COMTEX.

Extreme Futures: Movers & Shakers




Today's Hottest Futures
Market Last Vol % Chg