European Investment Bank (EIB) has approved Eldrive’s request for a EUR 40 million loan to install 8,472 electric vehicle charging stations in Bulgaria, Lithuania and Romania over the next three years.
With InvestEU and the EIB’s financial support, the firm plans to invest about EUR 146 million to deploy 4,376 new EV charging stations in Romania, 2,575 in Lithuania and 1,530 in Bulgaria.
According to the EIB, the project will improve the currently low market penetration of electric vehicles and charging points in the three countries, and help them deliver on the European Green Deal objective of having one million public EV chargers and alternative fuel stations spread across the European Union.
The EV charging networks will underpin the shift to electric vehicles and reduce greenhouse gas emissions and air pollution in urban areas of Bulgaria, Lithuania and Romania, the bank said.
According to Electromaps, Bulgaria has 268 chargers and there are only 71 in Lithuania while Romania hosts 1,526.
