The European Investment Bank is working alongside Enel to install about 14,000 charging stations for electric vehicles throughout Italy, over the next five years. This is the objective of the agreement signed by EIB and Enel X Mobility, a subsidiary of Enel X. Enel X Mobility will receive a 10-year loan totaling €115 million ($134.5 million), guaranteed by Enel Spa, of which €50 million ($58.5 million) has already been finalized.
As for the EIB, which will support about 50 percent of Enel X Mobility's total investment, the transaction is part of one of its main activity areas: financing projects that fight climate change in the areas of innovation and sustainable mobility.
Enel X is committed to giving a substantial boost to the development of electric mobility in Italy with its National Programme, which aims to provide the country with 7,000 charging points by 2020, to reach up to a total of 14,000 by the end of 2022.
"We are firmly committed to giving Italy a decisive boost to developing a sustainable mobility system. Our plan is ambitious, and it is important to have the EIB on board to implement it,”said Enel CEO Francesco Starace.
Enel X's extensive charging network will consist of Quick (22 kW) stations in urban areas as well as Fast (50 kW) and Ultra Fast (over 150 kW) stations for fast recharging in extra-urban areas. Over 60 percent of the charging stations will be installed in large metropolitan areas and other cities, while the rest will ensure an initial nation-wide coverage, to support medium and long travel, in suburban areas and on long-distance roads.
This latest infrastructure includes the charging stations of the EVA+ (Electric Vehicles Arteries) project, co-funded by the European Commission, which envisages the installation, in three years, of 180 charging stations along Italian extra-urban routes, or the 46 sites of the E-VIA FLEX-E and Central European Ultra Charging projects, also co-funded by the European Commission, which will provide high-power charging of electric vehicles with a range of over 400 km that will be on the market by the end of 2018, an important step towards mass market uptake.
To roll out the National Programme, Enel X is implementing agreements with municipal and regional administrations, institutions and businesses, to set up charging infrastructures in public or open-access private areas.
As of today, more than 350 municipalities have signed agreements with Enel X for the installation of charging infrastructure.