PROJECT EVEREST (FM)

Promoter – Financial Intermediary

WENEA MOBILE ENERGY SL

Location

• Spain

Description

The project consists of the implementation of an Electrical Vehicle (EV) fast and super-fast charging network in Spain's highway and major road network (mostly in the Trans-European Transport Network (TEN-T)). The Wenea EV network will cover the main roads of Spain's highways with one charging station about every 100 kilometres.

Objectives

The project will contribute to accelerating the electrification of road transport in Spain and therefore contribute to achieving European decarbonisation objectives: -The project will prevent the emission of more than 30 000 tn of CO2 equivalent per year. -It will provide fast and super-fast charging network coverage for EV on the country's main roads, contributing to accelerating the EV adoption curve. -It will contribute to the EIB's objective of sustainable transport, decarbonisation and development of TEN-T infrastructure, thereby supporting EU policy objectives. The project is fully aligned with the European Commission's sustainable transport and low-emission mobility policies.

Comments

WENEA MOBILE ENERGY SL is part of DIGGIA GROUP.

Sector(s)

• Transport - Transportation and storage

Proposed EIB finance (Approximate amount)

EUR 50 million

Total cost (Approximate amount)

EUR 101 million

Environmental aspects

The project components consist of short connections to the distribution grid networks and the respective charging stations. They are expected to have limited environmental impact, which will typically be related to noise nuisance and works-related activities during construction. After completion, no environmental impact is expected from the operation of the stations. Electrical vehicle (EV) charging infrastructure in itself is not subject to an environmental impact assessment (EIA). However, the building of greenfield locations where the EV infrastructure is installed and/or connections to the grid may be screened in under Annex II of the EIA Directive. The Bank will require in those cases to be informed of the screening decision from the Competent Authority. The project is expected to have a positive effect on the environment as it will power electric vehicles with no emissions of pollutants and hence will contribute to meeting air quality standards as set out by the EU and the World Health Organization. The project will also contribute to reducing road transport noise pollution as EVs are quieter than vehicles with internal combustion engines. Finally, the project will have a significant impact on CO2 emissions reduction that will result from the replacement of vehicles operating on fossil fuels with electric cars powered by less carbon intensive electricity. No major social issues are envisaged.

Procurement

The Promoter has been assessed by the EIB as being a private company and hence not subject to EU rules on public procurement or concessions.

Status

Signed - 17/12/2020