Supporting EV charging infrastructure in eastern Europe and the Baltic states

• EBRD supports electric vehicle charging infrastructure in Bulgaria, Lithuania and Romania 

• Bank takes equity stake in charging point operator Eldrive   

• Eldrive to add 7,400 charging stations, boosting EV infrastructure in three countries 

The European Bank for Reconstruction and Development (EBRD) is making an equity investment of €15 million in Eldrive Holding GmbH (Eldrive), a leading regional charging point operator in Bulgaria, Lithuania and Romania. By 2028, it will install and operate 7,400 new electric vehicle (EV) charging stations in addition to 900 it already operates, expanding the EV infrastructure currently available in those countries. 

The EBRD will invest alongside Renalfa Solarpro Group, Eldrive’s owner, in the first phase of development. The investment is subject to customary conditions precedent, including  any required regulatory approvals. The European Investment Bank (EIB) is also providing a €40 million venture debt facility.

This investment supports the European Union’s commitment to decarbonisation. With the transport sector responsible for 22 per cent of global CO2 emissions in 2022, EU countries are accelerating the rollout of clean electric mobility. The EU Green Deal’s objective is to reach one million public EV charging stations in the EU by 2025 and three million by 2030. Currently, central, southern and eastern European markets are lagging behind western European countries in the availability of EV charging stations. 

Stefan Spassov, Eldrive CEO, commented: “We are excited to welcome the EBRD as an equity investor in Eldrive. Being the first CPO to receive such an investment makes us proud and shows the potential and resilience of our business strategy and model. This is great recognition not only for Eldrive but for the whole European electric mobility sector.” 

The EBRD, a leader in climate finance in central and eastern Europe, Central Asia and the southern and eastern Mediterranean region, has aligned all its activities with the goals of the Paris Agreement and committed to making at least half of its annual investment volumes green by 2025, a goal the Bank has met for the past three years.