According to Repsol, the 610 charging points (18 ultrafast and 592 fast) are to be installed between now and the end of 2023 at 33 of its service stations in Portugal and 577 in Spain.
Spain’s Repsol is to spend €42.5 million installing 610 electric charging points at its service stations in Portugal and Spain, as part of its efforts to reach its declared aim of becoming a carbon-neutral company by 2050, it said in a statement.
“This investment is in line with Repsol’s goal of reaching 1,000 electric charging points on the public network by the end of 2022, making the largest number of charging points available to its customers in the Iberian Peninsula, and to be a carbon neutral company by 2050,” the statement reads.
It adds that the project is funded by €40.7 million from Spain’s Official Credit Institute (ICO), complemented by a €5-million subsidy from the European Union’s Connecting Europe Facility (CEF) initiative, and that its aim is to install fast and ultra-fast chargers in Repsol’s network of service stations in Portugal and Spain.
As an entity collaborating in the CEF programme, the ICO promotes access by companies based in Spain to this initiative, with projects that contribute to speeding the energy transition, increasing efficiency in the transport sector.
According to Repsol, the 610 charging points (18 ultrafast and 592 fast) are to be installed between now and the end of 2023 at 33 of its service stations in Portugal and 577 in Spain, in the Mediterranean and Atlantic corridors.
The installed power at the fast and ultrafast charging points is to be 50 kilowatts (kW) and 180 kW respectively, with “guaranteed 100% renewable electricity origin” – says the company.
Repsol says it currently has one of the largest public charging networks in Portugal and Spain, with more than 350 charging points, including 70 fast ones (mostly at service stations) and describes itself as “the leading multi-energy company in fast chargers on the Iberian Peninsula.
“To this network we must add the first charging station for electric vehicles that incorporates energy storage in Spain, located on the N-I, passing through the town of Tolosa, in the province of Gipuzkoa, and the two ultra-fast charging points, installed in 2019 at the Lopidana (Álava) and Ugaldebieta (Vizcaya) service stations,” it states.
Repsol also says that it has requested “state support to access the incentive plan for the installation of MOVES III electric charging points, with the aim of consolidating its multi-energy offer in sustainable mobility.”
This operation was carried out within the framework of the EU’s Connecting Europe Facility initiative, in which the ICO acts – in collaboration with the Ministry of Transport, Mobility and Urban Agenda – as an accredited entity for the channelling of projects from Spanish companies that contribute to the dynamisation of the energy transition, improving efficiency in the transport sector.
The CEF Transport Blending Facility, as an instrument of the CEF Connecting Europe Facility, promotes the participation of private sector investors and financial institutions in projects that contribute to the sustainability of the environment and the efficiency of the transport sector in Europe.
ICO, as Implementing Partner (IP) of the European Commission, studies and contributes to the search for eligible projects, while investing in these same projects, thus complementing the ‘blending’ operation, which consists in combining CEF grants and/or financial instruments from the European Union budget, with long-term financing for the projects, through loans, equity and any other form of repayable support
In this programme, the ICO managed 10 project applications with a total investment of €247 million, associated ICO funding of €173 million and a combined amount of CEF grants of €35 million.
(article last updated at 12h46 pm)