Repsol invests €42 million to install 610 public electric recharging points in Spain and Portugal

• This investment is part of Repsol’s goal of reaching 1,000 public recharging points by the end of 2022, one every 50 kilometers on the main road corridors in the Iberian Peninsula. It is a further step forward on the company’s path toward carbon neutrality by 2050. 
• This project is financed by the ICO (the Spanish Official Credit Institute) in the amount of €40.7 million. It is aimed at implementing fast and ultra-fast chargers in the network of service stations that the multi-energy company has in Spain and Portugal. 
• The total amount of Repsol’s investment to further strengthen its commitment to electric mobility is further complemented by a grant of €5 million that it will receive from the European Union’s Connecting Europe Facility (CEF) initiative. 
• ICO, as a collaborating entity of the CEF program, promotes the access of Spanish companies to this initiative with the aim of promoting projects that contribute to boosting the energy transition by increasing the efficiency of the transport sector.

Repsol will invest €42.5 million in the installation of 610 electric recharging points at its service stations in Spain and Portugal. This project is part of the multi-energy company’s goal of reaching 1,000 public re-charging points by the end of 2022, one every 50 kilometers along the main road corridors of the Iberian Peninsula, and it is a further step forward on the company’s path toward carbon neutral by 2050. 

The Spanish Official Credit Institute (ICO) has participated in two financing operations related to this Repsol project for a total amount of €40.7 million to support the installation of 610 fast and ultra-fast re-charging points in the network of service stations that the multi-energy company has in the Iberian Penin-sula. 

The 610 electric recharging points (18 ultra-fast and 592 fast) will be installed before the end of 2023 and will be located at 577 Repsol service stations in Spain and 33 in Portugal, along the Mediterranean and Atlantic corridors. The installed capacity of the fast and ultra-fast recharging points will be 50 kW and 180 kW, respectively. All Repsol’s electric recharging points are guaranteed to provide 100% renewable en-ergy. 

At present, Repsol’s public recharging network is one of the most important infrastructures of this type in Spain and Portugal. With more than 350 points, including 70 fast charging points, most of which are located at service stations, the multi-energy company is the leader in fast charging at service stations in the Iberian Peninsula. 

To this network must be added the first charging station for electric vehicles in Spain that incorporates energy storage using second-life batteries, located in the town of Tolosa in the Basque Country region, and the first two ultra-fast charging points on the Iberian Peninsula, installed in 2019 at the service stations of Lopidana and Ugaldebieta, also in the Basque Country.

Repsol has also applied for state aid to access the MOVES III incentive plan for the installation of recharg-ing points to consolidate its multi-energy offering in sustainable mobility. 

This operation has been carried out within the framework of the European Union’s Connecting Europe Facility (CEF) initiative, in which the ICO acts - in collaboration with the Spanish Ministry of Transport, Mobility, and Urban Agenda - as an accredited entity for channeling Spanish companies’ projects that contribute to boosting the energy transition by increasing efficiency in transport.

CEF TBF program

The CEF Transport Blending Facility Program, as part of the CEF Connecting Europe Facility, promotes the participation of private sector investors and financial institutions in projects that contribute to the envi-ronmental sustainability and efficiency of the transport sector in Europe.

ICO, as Implementing Partner of the European Commission, studies and contributes to the search for eligible projects and provides financing for the projects, thus completing the blending operation which consists in the combination of the CEF grant and/or financial instruments from the European Union budget with the long-term financing of the projects, through loans, equity, or any form of repayable support.

In this program, ICO has managed 10 project applications with a total investment of €247 million, an as-sociated ICO financing of €173 million, and a joint CEF sub-grant amount of €35 million.

About Repsol:

Repsol is a global multi-energy company that is leading the energy transition and has set itself the goal of becoming zero net emissions by 2050. It is present throughout the energy value chain, employs 24,000 people, and distributes its products in nearly 100 countries to 24 million customers.

It can meet any energy and mobility need of its customers, with a customer-centric offering. It is at the forefront of the development of sustainable mobility solutions providing with increasingly efficient fuels, electric recharging, biofuels, AutoGas (Vehicular Natural Gas). It is also a major player in the electricity and gas market in Spain, with 1.2 million customers. It expects to end the year with a total installed capacity of 1.7 GW in renewable electricity generation assets.

About the Spanish Official Credit Institute (ICO):

The Spanish Official Credit Institute (ICO), which this year commemorates its 50th anniversary, is a Public Business Entity at-tached to the Spanish Ministry of Economic Affairs and Digital Transformation. ICO has become a benchmark entity in the financ-ing of both SMEs and large-scale investment projects. ICO contributes to sustainable growth, fostering those economic activities that, due to their social, cultural, innovative, or environmental importance, deserve promotion and development. www.ico.es