Galp buys Mobiletric, expands electric charging network by 280 points

Galp Energia, once Portugal’s state-owned oil and gas company, now a diversified energy group quoted on the stock market, has acquired electric charging company Mobiletric, expanding its own network by 280 points, it said in a statement on Wednesday.

“Galp has agreed to acquire the entire share capital of Mobiletric, one of the key operators in the electric mobility sector in Portugal, particularly in fast and ultra-fast electric charging,” the statement said, without how much had been paid in the operation. “With this acquisition, Galp adds 280 charging points to its network in the short term, most of them already in operation, as well as a solid portfolio of planned charging points which will enable rapid growth prospects.”

The transaction, “combined with Galp network’s strong organic growth,” it went on, “will allow the number of charging points managed by the Company in Portugal to double to more than 1000 points in operation by the end of 2021, from 513 at the end of 2020.

“As part of Galp’s growth plan to thrive through the transition into a more sustainable energy model, the acquisition of Mobiletric is a relevant step towards Galp’s goal of reaching 10,000 charging points in Iberia by the end of 2025,” it added.

According to the company, the conclusion of the agreement is conditional on “normally applicable regulatory approvals”.

According to Mobiletric’s own website, the unit “provides charging solutions for electric cars and energy solutions, in all situations.”