Iberdrola and bp plan to invest €1 billion (£890m) to deploy a network of 11,700 fast and ultra-fast charging points in Spain and Portugal.

The agreement will see the installation of 5,000 fast-charging points by 2025 and will reach nearly 12,000 chargers by 2030.

The announcement follows an agreement reached by both companies in July 2022 with a focus on electric mobility and green hydrogen.

Executive Chairman of Iberdrola Ignacio Galán said: “This strategic alliance enables progress in the electrification of transport as a key element to reduce energy dependence on fossil fuels and increase energy efficiency.”

Bernard Looney, Chief Executive Officer of bp, said: “Agreements like this can help people and businesses decarbonise sooner. By pooling our resources and expertise, we can deploy lower carbon mobility solutions at scale for our customers.”

Article source: https://www.energylivenews.com/2023/03/03/iberdrola-and-bp-to-invest-e1bn-in-fast-charging-infrastructure/