European ultra-fast EV charging operator Electra has signed a green loan facility of up to €433m to support its future growth.
The France-based company says the transaction includes €283m of committed facilities plus a €150m incremental 'accordion' facility. It will be used to further accelerate the deployment of high-quality infrastructure.
The transaction brings Electra’s total funding raised since inception to over €1bn and the company says it marks a new milestone in its growth trajectory. Electra’s network currently spans over 500 stations (more than 3,000 active charging points) in nine European countries while aiming for 2,200 stations and 15,000 high-power charging points by 2030, located where they are most needed, in dense urban areas, transit hubs, business districts, and major traffic roads.
"The debt financing is a key milestone and enables Electra to continue rapidly expanding its network across Europe, consolidating the market, and ultimately accelerating the adoption of electric mobility across the continent,” said Aurélien de Meaux, CEO and co-founder of Electra.
"This transaction confirms the strength of our model and our ability to execute quickly and efficiently. We secured an amount exceeding our initial expectations, allowing us to fund the roll-out of our 2030 targets. We have secured over €1bn with a balanced capital/debt ratio, which demonstrates the robustness of our financial model,” said Elise Erbs, CIO of Electra.
The transaction was supported by a broad group of top-tier banks: ING, MUFG, ABN AMRO Bank, Societe Generale, Rabobank, Bpifrance, Caisse d’Epargne Hauts de France, Banque Populaire Val de France, with ING Debt & Capital Advisory acting as Electra’s exclusive financial advisor. A&O Shearman acted as borrower legal advisor and Clifford Chance acted as the lenders’ legal advisor.
As market consolidates and energy sovereignty becomes a European imperative, Electra sys it is positioning itself as a driving force of the European electric transition, with more than 250 employees. It adds that by aligning with key partners - banks, local authorities, landowners, industrial players, and financial institutions - the company is building a large-scale infrastructural network to make easily accessible and decarbonized mobility available.
"This positioning is exemplified by structural initiatives like the Spark Alliance, which brings together four leading European ultra-fast charging players around a joint network offering more than 11,000 charging points to users across Europe," Electra said in a statement.
