Green Energy Initiative: Iberdrola and bp pulse’s €1 Billion Plan for High-Speed EV Charging Across Iberia

Pablo Pirles from Iberdrola and Elena Media from bp

(IN BRIEF) Iberdrola and bp pulse have officially launched their joint venture, aiming to create an extensive high-speed electric vehicle (EV) charging network in Iberia. The venture plans to invest €1 billion and deploy 5,000 charging points in Spain and Portugal by 2025, with a long-term goal of reaching 11,700 points by 2030. All charging points will be powered by 100% renewable energy. The partnership will make high-speed public charging accessible to citizens, eliminating a key barrier to EV adoption. It represents a significant step towards sustainable mobility and supports both companies’ commitment to renewable energy and EV charging infrastructure.

(PRESS RELEASE) BILBAO, 1-Dec-2023 — /EuropaWire/ — Iberdrola, S.A. (BME: IBE), with more than 170 years of history, is a global leader in clean energy, grids and storage, a company that is today more solid, sustainable and diversified than ever, and bp pulse are pleased to announce the formal launch of their joint venture, which recently received regulatory authorizations from the European Commission. The new company is set to become a major player in the electric vehicle (EV) charging industry, with ambitious plans to establish the most extensive high-speed public charging network in Iberia.

The primary objective of this joint venture is to ensure that all citizens have access to a reliable, high-speed charging infrastructure, eliminating a significant barrier to the widespread adoption of electric vehicles. To achieve this goal, Iberdrola and bp pulse intend to invest €1 billion in the project.

Key Highlights:

• The joint venture aims to deploy approximately 5,000 charging points across Spain and Portugal by 2025.
• By 2030, the partners plan to expand the network to include an impressive 11,700 charging points.
• All charging points will be powered by 100% renewable energy, supported by guarantee of origin certificates.
• The company already boasts more than 300 operational fast (>50kW) and ultra-fast (>150kW) EV charge points.

The new company will be headquartered independently in Madrid and Oporto. Leading this endeavor will be Pablo Pirles from Iberdrola, serving as CEO, and Elena Melia from bp, who will be appointed CFO.

Iberdrola, known for its comprehensive mobility services, offers solutions catering to the diverse needs of electric vehicle users, including residential, business, and public charging, as well as options for urban and heavy transport.

bp, with an extensive network of 1,300 service stations, many of which can function as charging hubs, will provide secure charging locations for electric vehicle drivers. These hubs will offer additional convenience services for drivers.

The collaboration between Iberdrola and bp pulse signifies a powerful partnership aimed at delivering exceptional public charging experiences for EV drivers in Spain and Portugal. This effort is designed to accelerate the transition to more sustainable transportation.

Pablo Pirles, CEO of the new company, emphasized the venture’s commitment to making ultra-fast public charging accessible to all citizens, stating, “through this alliance we seek to make ultra-fast public charging accessible to all citizens, since the high speed of our network allows us to obtain autonomy for up to 200 kilometers in just a few minutes of charging.

“Our goal is to promote the definitive take-off in the use of electric vehicles, and, in addition, we do so with 100% renewable energy through use of guarantee or origin certificates, contributing to accelerating the energy transition”.

This joint venture aligns with Iberdrola’s recent agreements with key partners and underscores bp’s strategic transformation into an integrated energy company. bp is actively collaborating with various partners, including Uber, Hertz, Marks & Spencer, REWE, DiDi, and Tesla, to drive the growth of EV charging and sustainable mobility.

ABOUT THE JOINT VENTURE BETWEEN IBERDROLA AND BP PULSE

The new company, established as a result of the strategic alliance between Iberdrola and bp pulse, will officially commence operations in 2023. With a significant investment of €1 billion, the company aims to deploy 11,700 fast and ultra-fast charging points by 2030, democratizing access to electric vehicles and advancing the transition to a more sustainable mobility model through a comprehensive charging network.

Media contacts:

Tel: +34 91 784 32 32
comunicacioncorporativa@iberdrola.es

SOURCE: Iberdrola