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European Union

European Investment Bank Provides €17.5 Million for Electric Vehicle Charging Infrastructure in Greece and Cyprus

Strategic Insights

— 2 min read

The European Investment Bank (EIB) is supporting the expansion of electric vehicle (EV) charging infrastructure in Greece and Cyprus by providing up to €17.5 million in venture debt financing to Joltie SA, a Greek EV charging point operator. The financing, backed by the InvestEU programme, will support the installation of around 2,200 new charging points until 2029. This project aims to decarbonise road transport, reduce greenhouse gas emissions, and facilitate the transition to sustainable mobility in cohesion regions.

Key Takeaways:

  • The EIB is providing up to €17.5 million in venture debt financing to Joltie SA to accelerate the roll-out of public charging infrastructure in Greece and Cyprus.
  • The operation is backed by the InvestEU programme and will support the installation of around 2,200 new charging points until 2029.
  • The project will help decarbonise road transport, reduce greenhouse gas emissions, and facilitate the transition to sustainable mobility in cohesion regions.
  • The EIB's investment will help address key market gaps, accelerate the uptake of electric vehicles, and foster innovation in sustainable transport.
  • The operation supports the EIB's core priorities in terms of Climate Action, Cohesion, and Capital Market Unification, and it is aligned with the TechEU initiative.
  • Joltie SA has installed about one-third of all charging points across Greece since its inception and operates more than 500 chargers in Greece and Cyprus.
  • The EIB's investment will enable Joltie to expand coverage to underserved areas, including Greek islands and regional cities, and further strengthen its position in Southeast Europe's rapidly growing EV market.

Statistics:

  • €17.5 million in venture debt financing provided by the EIB to Joltie SA.
  • €372 billion in investment mobilized by InvestEU during 2021-2027 across strategic sectors and regions.
  • 2,200 new charging points to be installed in Greece and Cyprus until 2029.
  • 60% of the EIB Group's annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.
  • Nearly €89 billion in new financing signed by the EIB Group for over 900 high-impact projects in 2024.
  • Over €100 billion in new investment mobilized by the EIB Group for Europe's energy security in 2024.

Sources:

  • Original Press Release: European Investment Bank issued the following news release on September 8: "EIB provides up to €17.5 million in venture debt to Greek EV charging operator Joltie" ([Source URL: unavailable]).
  • European Investment Bank's website: "EIB provides up to €17.5 million in venture debt to Greek EV charging operator Joltie" ([Source URL: unavailable]).
  • InvestEU programme: "InvestEU programme brings together EU financial tools to support investment, innovation and job creation" ([Source URL: unavailable]).

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