EIB signs €40 million loan with Eldrive to expand electric vehicle charging networks in Bulgaria, Lithuania and Romania

European Investment Bank (EIB) announced 40 million Euro financing for eMobility International AD (operating under the brand Eldrive), part of Renalfa Solarpro Group GmbH -

EIB funding is a key part of a bigger investment package of over 170 million Euro, for the deployment of more than 10,500 electric vehicle charging stations for Eldrive’s charging network in Bulgaria, Romania, Lithuania and Latvia.

The aim of this collaboration is to speed up the electrification of road transport in Europe, by providing EV charging infrastructure and making EV stations widely and easily available. The project also supports a wide range of European Union (EU) policies and contributes to the achievement of EU decarbonization objectives.

Specifically, it contributes to the EU Green Deal objective to reach one million public EV chargers and alternative fuel stations in the EU by 2025. It also supports the Sustainable and Smart Mobility Strategy target of one million EV public charging points in the EU by 2025 and 3 million by 2030.

Eldrive is a leading charging stations operator in Bulgaria, Romania and Lithuania, developing a charging infrastructure for electric vehicles. Eldrive already has deployed more than 800 charging points and an ambitious pipeline for a future growth.

The European Investment Bank is the lending arm of the European Union. EIB is the biggest multilateral financial institution in the world and one of the largest providers of climate related finance. More information on www.eib.org/en/projects/pipelines/all/20220550

Renalfa Solarpro Group GmbH is a Vienna based clean energy and e-mobility investment group. The Group is also one of main investors in the leading European EV car-sharing platform Spark (https://spark.lt).

Renalfa (https://renalfa.com) is an established EU clean energy platform with strong business model capabilities, working across the full solar PV and wind value chains from project origination to asset operation.