ICO lends 150 million euros to CEPSA to install ultra-fast chargers and promote electric mobility in Spain and Portugal

18 March 2024

ICO is granting this green loan to help finance half of this project, with investments totalling 300 million euros over the period 2023-2026
This investment will enable CEPSA's ultra-fast charging network to provide 150kW and 300kW charging points on all major corridors and roads in Spain and Portugal

The Instituto de Crédito Oficial (ICO) has granted a green loan of 150 million euros to CEPSA to partially finance the installation of ultra-fast charging points at its service stations and promote the mobility of electric vehicles in Spain and Portugal.

In this way, the energy company is promoting the electrification and decarbonisation of road mobility, accelerating the transition to a more sustainable model, one of the objectives of the Recovery, Transformation and Resilience Plan.

During the signing ceremony, the CEO of CEPSA, Maarten Wetselaar, highlighted: "ICO's support is an incentive for us to continue developing an extensive ultra-fast charging network at our service stations in Spain and Portugal, which will boost user demand by allowing them to make intercity journeys in electric vehicles without delaying their journey due to charging time. At CEPSA, we are committed to ultra-fast charging to make electric mobility a reality”.

ICO Chairman José Carlos García de Quevedo said: "This transaction is part of the ICO's strategy to prioritise financing for projects that have a positive social and environmental impact, in line with the objectives of the Recovery Plan. The loan granted to CEPSA is a new step in this direction, supporting sustainable mobility and the creation of infrastructures accessible to all citizens".

ICO's funds will enable CEPSA’s ultra-fast charging network to provide 150kW and 300kW charging points on all major corridors and roads in Spain and Portugal. The company currently has more than 130 ultra-fast charging points installed and is developing a further 330, with the aim of offering this type of charger at most of its service stations by 2030.

The transaction signed today qualifies as a "green loan" under the Green Loan Principles (GLP) of the LMA (Loan Market Association). This loan is in addition to the 150 million euros in financing granted by the European Investment Bank (EIB) at the end of 2023, which will enable CEPSA to carry out an estimated 300 million euros in investments over the period 2023-2026.

CEPSA

Through its "Positive Motion" 2030 strategy, CEPSA is undertaking a profound transformation to decarbonise its operations and help its customers tackle their own decarbonisation challenges, focusing on electric mobility and the production of green molecules, mainly green hydrogen and biofuels.

CEPSA also aims to go beyond net-zero emissions to become a net-positive company, enabling its customers and society to move forward in a sustainable way. The company has set out an ambitious roadmap to reduce its emissions, making it one of the leading companies in its sector. Specifically, by 2030 it will reduce its Scope 1 and 2 CO2 emissions by 55% compared to 2019, and aims to achieve net zero emissions by 2050. The carbon intensity of the energy products it sells will be15-20% lower in 2030 compared to 2019.

ICO

The Instituto de Crédito Oficial (ICO) has made sustainability a horizontal principle of its operations and focuses much of its activity on the promotion of sustainable projects, both from a social and environmental point of view. In 2023, ICO participated in operations that will mobilise an investment of 16.314 billion euros in environmental and social projects.

The approval of the Addendum to the Recovery Plan marks a new milestone in the ICO Group's activity, as it has been entrusted with managing 40 billion euros in loans under the second phase of the Recovery Plan, which will help Spanish companies complete their transformation process and develop projects that promote the green and digital transition.

La información contenida en esta página web y los anuncios relacionados con ella no está dirigida ni puede ser utilizada por personas que no ostenten la condición de inversores profesionales y contrapartes elegibles en el sentido de la jurisdicción pertinente ("Personas Relevantes"). Las personas que no se incluyan en la definición de ''Personas Relevantes'' arriba indicada, no deben acceder a esta página web.

La información y los documentos que aparecen en esta página web y sus anuncios relacionados son exclusivamente de carácter informativo. Ningún contenido de esta página web y sus anuncios relacionados puede interpretarse como una oferta, ni invitación ni recomendación, para la suscripción o la adquisición, la tenencia o la venta de cualquier activo financiero.

La distribución de la información y los documentos contenidos en esta página web puede estar prohibida o limitada por ley en algunas jurisdicciones. Se deniega el acceso a las personas a las que se apliquen estas restricciones en dichas jurisdicciones. La información y los documentos contenidos en esta página web no están dirigidos ni pueden ser vistos ni distribuidos a ninguna persona residente o físicamente presente en los Estados Unidos de América, salvo lo estipulado en la Norma 144A de acuerdo con la Ley sobre Activos Financieros (Securities Act) en relación con "inversores institucionales cualificados" (QIBs).

Se deniega el acceso a toda persona a quien estas restricciones les sean de aplicación. Cada visitante de esta página web tiene la obligación de informarse debidamente y a cumplir con las restricciones correspondientes. El Instituto de Crédito Oficial (ICO) no asume ninguna responsabilidad en caso de alguna infracción en este sentido.

NO SOY RESIDENTE EN EE.UU. NI EN NINGUNA JURISDICCIÓN EN QUE EL ACCESO A ESTA INFORMACIÓN ESTÉ LEGALMENTE LIMITADA Y ESTOY DE ACUERDO CON LO EXPUESTO ANTERIORMENTE

Como consecuencia de la información anterior, en esta sección de esta página web usted confirma que no es residente en los EE.UU. ni en ninguna jurisdicción en que el acceso a esta información esté legalmente limitada y que no distribuirá aviso alguno ni documentación contenida en la misma a alguna persona residente en los EE.UU. ni en ninguna jurisdicción en que el acceso a esta información esté legalmente limitada. Ninguna información desplegada en las siguientes secciones constituye una oferta de venta de activos financieros en los EE.UU.

ACEPTO NO ACEPTO

El Instituto de Crédito Oficial no ha efectuado ni tiene la intención de efectuar el registro de cualquiera de sus activos financieros (ni tampoco la garantía de los mismos ha sido o será registrada), de acuerdo con la Ley estadounidense de 1933 sobre activos financieros o con cualquier Ley estatal estadounidense sobre activos financieros que resulten de aplicación, ni realizará oferta pública de venta de activos financieros en los EE.UU. El ICO cumple la normativa en materia de exención de la inscripción de sus activos financieros, de acuerdo con la mencionada ley estadounidense de 1933 sobre activos financieros, según la cual éstos se ofrecerán a la venta sólo a "inversores institucionales cualificados", según lo previsto en la Norma 144A.

The information contained in this website and its related advertisements is not directed at and may not be acted on by anyone other than professional investors and eligible counterparties with the meaning of the relevant jurisdiction ("Relevant Persons"). Persons who do not fall within the definition of ‘‘Relevant Persons’’ above should not enter this website upon it.

Information and documents contained in this website and its related advertisements are for information purposes only. Nothing on this website and its related advertisements constitutes an offer or an invitation or recommendation to subscribe to or to purchase, to hold or sell any securities.

Distribution of information and documents contained on this website may be forbidden or limited by legislation of some jurisdictions. Access is denied to persons to whom these restrictions in such jurisdictions apply. The information and documents contained on this website are not directed at and may not be viewed by or distributed to any person resident in the United States of America or physically present in the United States of America, except the provisions set forth in rule 144A under the Securities Act, regarding "qualified institutional buyers".

Access is denied to persons to whom these restrictions could be applied. Each visitor to this website is required to inform himself accordingly and to comply with applicable restrictions. ICO is by no means liable for any such infringement.

I AM NOT RESIDENT IN THE U.S. OR IN ANY JURISDICTION IN WHICH THE DISTRIBUTION OF THIS INFORMATION IS LEGALLY LIMITED AND AGREE WITH THE ABOVE TERMS.

As a consequence of the previous information, at this website section you confirm that you are not a resident of the United States of America or of any jurisdiction in which the distribution of this information is legally limited and that you will not distribute any of the information and documents contained hereon to any person resident in the United States of America or in any jurisdiction in which the distribution of this information is legally limited. None of the information displayed in the following sections is an offer of securities for sales in the United States of America.

I ACCEPT I DO NOT ACCEPT

Instituto de Crédito Oficial has not registered, and does not intend to register, any of its securities (nor the guarantee thereof has been or will be registered) under the United States Securites Act of 1933 or any applicable U.S State Securities Laws or to conduct a public offering of securities in the United States of America. Instituto de Crédito Oficial is complying with rules concerning the exemption from the registration of its securities under the United States Securities Act of 1933, by which those securities will be offered only for sales to "qualified institutional buyers" (QUIBs) pursuant to rule 144A.