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Dec 13, 2018

Finance commits to tackle climate change and supports e-mobility transition

The European Investment Bank (EIB) has agreed to provide EUR 40 million in Allego, a provider and operator of electric vehicule (EV) charging infrastructure, active around Europe.

The financing of the EIB supports the upcoming investments in the extension of the normal, fast and high power charging infrastructure, installed and distributed over Allego’s countries of operation. Making EV charging stations more widely and easily available, will help fight climate change and air pollution.

“Our support to Allego shows Europe’s commitment to support the transition towards clean mobility.” said EIB vice-president Ambroise Fayolle. “Not only have we financed research into electric vehicle propulsion, we also support the EU’s battery alliance by financing tangible projects. Financing making charging infrastructure more widely available is only logical in that sense. Allego is an independent, emerging electro-mobility infrastructure company, with a unique approach which we’re happy to support.”

“I congratulate Allego on seizing the financing opportunity offered by the Juncker Plan, after having already secured grants under the Connecting Europe Facility for the expansion of its networks of charging hubs. The shift towards low-emission mobility requires sustained investments, investments that match our ambitions, in order to develop innovative solutions for electro-mobility in Europe.” added Violeta Bulc, EU Commissioner for Transport.

Allego is developing, and will implement through a dedicated project finance structure, the pan-European MEGA-E (Metropolitan Greater Areas Electrified) project, which aims to deploy ultra-fast charging locations in at least 10 European metropolitan areas. The project was awarded EUR 29 million from the European Commission as part of the Connecting Europe Facility (CEF) Blending Call.

Allego was acquired on 31 May 2018 by Meridiam.

For more information: Please read the EIB and the European Commission press releases

Picture: Thierry Déau (CEO of Meridiam) and Ambroise Fayolle (EIB vice-president)

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