By 2028, Eldrive 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 European Investment Bank (EIB) is also providing a €40 million venture debt facility.

Pave the way for other EV infrastructure investments

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.

Sue Barrett, EBRD Director for Infrastructure in Europe, the Middle East and Africa said: “This is the EBRD’s first equity investment in a charging point operator (CPO) and we are pleased to support Eldrive’s expansion plans in Bulgaria, Lithuania and Romania. We hope this investment will pave the way for many other EV infrastructure investments across the region and help speed up the decarbonisation of the transport sector in Europe.”

Align financing activities with the goals of the Paris Agreement

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.”
Eldrive is a leading regional EV CPO in Bulgaria, Lithuania and Romania, facilitating the acceleration of EV uptake and bolstering the decarbonisation of transport, critical at this early stage of market development.

Also interesting: E-car boom in Norway

Renalfa Solarpro Group, an existing client of the EBRD, is an Austrian-based clean energy and e-mobility investment group with a focus on renewable energy generation assets. The group currently has solar and windpower projects under construction and development with a total capacity of 3 GW in Bulgaria, Hungary, North Macedonia, Poland and Romania.

Also see: EBRD supports renewables in Romania and Moldova

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. (hcn)





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While sales of electric cars are currently rather sluggish in Germany, the picture is different in Norway: around 84 percent of new cars registered on Norwegian roads in the first half of 2024 (new cars and imported used cars) were electric cars. This is according to statistics from Statistics Norway (SSB).

E-cars catch up with petrol cars

This means 2024 could be another record year. In 2023, the proportion of newly registered e-cars in Norway was 82% – higher than ever before. Around 732,000 electric cars are currently on the roads in the Scandinavian country. It is expected that more electric cars will be registered in Norway than petrol cars from September – this is unique in the world. Only the Norwegian diesel fleet, with around one million, is still slightly out of reach.

With a market share of around 17 percent in the first half of 2024, Tesla is at the top of Norwegian new car sales, with the Model Y being particularly popular. With a market share of around 11 percent, Volkswagen also makes it into the Norwegian top 3 after Toyota. VW’s best-selling car is the ID.4.

Reasons for the Norwegian e-boom

But how can the continuing popularity of electric cars in Norway be explained? What do the Scandinavians do differently to the Germans? For one thing, the Norwegian government has long provided strong incentives for electric cars. For example, there were major concessions and tax breaks for electric cars, lower parking fees and permission to drive in bus and cab lanes. Some of these measures were withdrawn, but the e-cars remained.

According to Michael Kern, Managing Director of the German-Norwegian Chamber of Commerce (AHK Norway), the dense public charging network, which extends to the remote regions of Norway, also plays a role: “Such growth in e-mobility requires that the charging infrastructure keeps pace with the sales of electric cars – and does not become an obstacle to their introduction,” he says.

Fast-charging stations, which enable efficient and time-saving charging on the move, are particularly relevant here. In Norway, there were 7741 of these at the end of 2023 (in June 2024 there were 8550); Germany, with a population around 15 times larger, had 25,233 on January 1, 2024.

Read more about e-mobility

However, Kern points out that direct comparisons between countries are often difficult. “In Germany, for example, there are completely different market conditions that influence consumers when buying a car.” As far as the switch to electromobility is concerned, Norway also has favorable conditions – apart from the cold winter: “In addition to the smaller population, the country has a more manageable and less complex infrastructure that needs to be adapted. In addition, Norway has always generated well over 90 percent of its electrical energy from renewable sources – so electric cars have always been able to fully exploit their environmental advantage here.“

Reduced fees for grid-friendly charging

The grid operator Norgesnett, in collaboration with the software company Volue, recently started offering reduced grid charges for electricity customers who charge their electric cars in a grid-friendly way. “We are all in favor of the green transition, but for us as a grid operator, solar roofs and electric cars are also a challenge. When a lot of solar power from private homes flows into the grid on sunny days and more and more people charge their electric cars at night, this leads to an increasing load on the local grid,” says Vidar Kristoffersen, CEO of Norgesnett, which has around 100,000 grid customers.

The main motive behind the new eNabo service is therefore to facilitate the feed-in of more and more solar power from rooftops and the increased use of electric cars without having to increase grid charges to finance a massive grid expansion.

“Many of us have developed a relationship with smart charging of electric cars, i.e. charging at times when electricity is cheapest on the spot market, usually at night. The problem with this first-generation smart charging is that it does not take into account the load on the local power grid. It is not “grid intelligent”. That is the element we are now introducing together with Norgesnett,” says Kjetil Storset, who heads the ‘Neighborhood Systems’ initiative at Volue.

Offer for regions with particularly strained networks

In practice, the system is managed by service providers who offer smart charging. The service will be offered in areas where the grid is considered to be particularly congested. These are initially around 130 districts, the number of which will increase with the expansion of solar power generation. End customers who decide to participate in the program will receive an additional note from Norgesnett on their electricity bill showing the offset. This applies regardless of which electricity supplier they purchase their electricity from.

Also interesting: Norway – First large solar park connected to the grid

With the new system, the grid operator receives continuously updated forecasts of generation, consumption and bottlenecks in the local electricity grid for the coming days.
“This is a good start and one of several tools we need to develop more solar energy in Norway,” says Trine Kopstad Berentsen, CEO of the Solar Energy Cluster. (hcn)





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