Iberdrola accelerates its sustainable mobility strategy and signs a green loan with ICO for the installation of 2,500 on-road charging points
16 septiembre 2020
- The deployment of electric vehicle charging infrastructure promoted by the company will reach 150,000 charging points in the next five years
- Iberdrola's mobility electrification plan also has the backing of the European Commission, through CEF Transport Blending Facilities funds
- As an Implementing Partner of the CEF programme, ICO promotes Spanish companies' access to this initiative to boost projects that contribute to environmental sustainability and the efficiency of the transport sector
Iberdrola has signed a new green loan with Instituto de Crédito Oficical (ICO) for the amount of 59.4 million euros to accelerate the deployment of its sustainable mobility plan, which includes the installation of 150,000 charging points in homes, companies and the public road network in the next five years. In this case, the financing will make it possible to reinforce Iberdrola's recharging network on Spain and Portugal's public roads with up to 2,500 new charging points.
The financing subscribed with ICO, with a maturity of nine years, represents the fourth green loan granted by the institute to a Spanish company with the aim of promoting the production and use of energy from renewable and non-polluting sources. In the case of its sustainable mobility plan, electric vehicle users who recharge at Iberdrola stations do so with 100% clean energy, with a certificate of Renewable Guarantee of Origin (GdOs). They also have green certification from G-Advisory, which has issued its second party opinion.
Iberdrola's mobility electrification plan, aligned with its green recovery strategy, also has the backing of the European Commission, through a grant for the amount of 13 million euros, provided to the company within the framework of the CEF Transport Blending Facilities call by the Innovation and Networks Executive Agency (INEA). This will help finance the installation of 2,339 fast, super-fast and ultra-fast charging points on public roads for electric vehicles in Spain and Portugal until 2023. These new charging stations will be located on high-capacity roads in the two countries and at points close to the Trans-European Transport Networks (TEN-T).
ICO is an Implementing Partner of this CEF programme, with the aim of facilitating Spanish companies' access to this type of European Union initiative. More specifically, this call has promoted Blending operations, those that combine the use of a grant from the CEF mechanism with a loan component from one of the Implementing Partners of this programme, such as ICO.
The proposals promoted by Implementing Partners within the framework of the CEF programme expressly have the approval of the respective Government of the Member State in which the requesting institutions or companies are located. In Spain, this means that the Ministry of Transport, Mobility and Urban Agenda (MITMA) gives this approval.
Electric mobility and green recovery
Iberdrola continues to support transport electrification in its strategy of transitioning towards a decarbonised economy as a key lever for reducing emissions and pollution, as well as for green recovery in the post-COVID world.
The company is implementing a sustainable mobility plan, with an investment of 150 million euros, with which it will intensify the deployment of charging points for electric vehicles in the coming years.
The initiative anticipates the installation of about 150,000 charging points, in both homes and businesses, as well as on urban roads, main roads and in cities in the next five years. The commitment to the deployment of high-efficiency stations will manifest itself in the installation of ultra-fast stations (350 kW) every 200 kilometres, super-fast stations (150 kW) every 100 kilometres and fast stations (50 kW) every 50 kilometres.
Iberdrola is aware of the need to promote electromobility in Spain through coordinated and effective action with the main agents involved. In this sense, the company has already completed over 40 infrastructure deployment agreements with administrations, institutions, companies, service stations, authorised dealers and manufacturers of electric vehicles.
Iberdrola was the first Spanish company to subscribe to The Climate Group's EV100 initiative, which aims to accelerate the transition to electric vehicles. Iberdrola committed to electrifying its entire fleet of vehicles and to making charging easier for its staff at its businesses in Spain and the United Kingdom by 2030.
Iberdrola is a global energy leader, the world's leading wind power producer and one of the world's largest electricity companies in terms of market capitalisation. The group supplies energy to nearly 100 million people in dozens of countries such as Spain, United Kingdom (ScottishPower), United States (AVANGRID), Brazil (Neoenergia), Mexico, Germany, Portugal, Italy and France. With a workforce of some 35,000 people and assets in excess of 122,000 million euros, it had a turnover of 36,438 million euros and a net profit of 3,406 million euros in 2019.
Iberdrola leads the energy transition towards a sustainable model through its investments in renewable energies, smart grids, large-scale energy storage and digital transformation to offer the most advanced products and services to its customers. Thanks to its commitment to clean energy, it is one of the companies with the lowest emissions and an international benchmark for its contribution to the fight against climate change and sustainability.
The group is a leader in green financing, having been the first in Spain to close a green bond issue and having had eight senior public green bond issues to date. In addition, it has made green private placements and has issued green bonds from other group subsidiaries, such as AVANGRID and Neoenergia. In line with this strategy, at the end of 2016 Iberdrola signed the first green loan in the world for an energy company and currently has green/sustainable financing for over 22,000 million euros.
ICO's committment to sustainability
ICO has integrated sustainability as a horizontal principle of action in its various environmental, social and governance aspects, both in liability operations, raising funds on international markets, and in its channelling into asset operations, financing companies and projects, as well as in its social responsibility policy.
In this line of work, ICO collaborates with the European Commission, the EIB and the EIF, mobilising resources from the Community budget to Spanish companies. During the current 2016-2020 Multiannual Financial Framework, ICO has promoted the channelling of 2,000 million euros from the Juncker Plan funds (European Fund for Strategic Investments). More recently, as an Implementing Partner in the Connecting Europe Facility programme, it has allowed six Spanish companies' alternative fuel projects to receive European funds. In 2019, it launched its first green bond issue amounting to 500 million euros, and operations for over 1,080 million euros were approved to finance environmentally and socially sustainable projects.