Paris-based Electra, a leading European operator in ultra-fast electric vehicles charging, announced it has signed a green loan facility of up to €433 million to support its future growth.
The transaction includes €283 million of committed facilities plus a €150 million incremental accordion facility. It will be used to further accelerate the deployment of infrastructure.
The transaction was supported by a group of banks including ING, MUFG, ABN AMRO Bank N.V., 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.
“The transaction brings Electra’s total funding raised since inception to over €1 billion and marks a new milestone in Electra’s growth trajectory,” said Electra.
“Electra’s network currently spans over 500 stations (more than 3,000 active charging points) in 9 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 quality and density of the network established Electra as a European leader, a position that will be further strengthened by closing the new funding.”
Aurélien de Meaux, CEO and co-founder of Electra, said: “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.”
Elise Erbs, CIO of Electra, said: “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 €1 billion with a balanced capital/ debt ratio, which demonstrates the robustness of our financial model.”