Accelerating the transition to Green Mobility in Europe
Providing 14,500 fast charging points by 2030 to become a European EV charging leader is an admirable undertaking. That is precisely what Electra is set to accomplish thanks to their new €75 million Green Loan project financing.
With a focus on removing barriers to the adoption of electric cars, leading French scale up Electra has developed a network of more than 250 fast and ultra-fast charging stations, with 40+ already operational in Belgium and 1000 currently in development in Europe. By expanding its EV charging network across Europe, Electra is well placed to support the EU goal of having 3 million public charging points by 2030, boosting the uptake of zero-emission mobility.
As EV adoption is set to accelerate across Europe, rapid development of charging infrastructure is essential to meet growing demand and ensure consumers are able to conveniently recharge electric vehicles wherever they’re travelling to and from. Electra is working to create one of the largest fast charging networks in urban areas and on motorways in Europe and thus facilitate the adoption of electric vehicles, with the help of a dedicated team of over 200 experts.
A European specialist in fast charging, Electra’s technology provides an ‘ultra-fast’ EV solution which meets the need for charging options that rival the accessibility experienced when using petrol or diesel cars. The company’s EV charging stations are already available in nine European countries, including France, Germany, Italy and Spain.
To support this vital transaction, Societe Generale acted as structuring bank, Mandated Lead Arranger (MLA), and hedging bank for Electra’s strategic €75 million Green Loan project financing. The financing will fuel the company's growth as a European leader in electric vehicle charging infrastructure and reflects Societe Generale’s commitment to contributing to a transition that is sustainable by supporting clients and the real economy as they move towards carbon neutrality. The transaction qualifies as a Green Loan, with stringent climate change mitigation criteria and impact reporting requirements embedded in the credit documentation.
We are delighted to have strong banks such as ABN Amro, Caisse d’Epargne Hauts de France, CACIB and Societe Generale at our side. This is a good demonstration of confidence in the development of sustainable mobility and more specifically in Electra’s ability to become a leader in this market. We were happy to rely on Societe Generale’s expertise and track record, as structuring bank, when putting in place this Green Loan financing.
Electric vehicle charging infrastructure is essential to the energy transition and sustainable mobility. Societe Generale has been a pioneer in this sector and we are proud to support Electra’s growth through this sustainable financing.