Italian firm’s EV charging plans revved up with €115m EU loan

Enel X Mobility aims to install 14,000 chargers by 2022

The European Investment Bank (EIB) is providing €115 million (£103m) to help Italian firm Enel install charging points for electric vehicles (EVs).

The loan will enable Enel X Mobility to finance around 14,000 new charging stations across Italy over the next five years.

The project is part of the company’s plans to substantially boost the development of electric mobility in the country, providing 7,000 charging points by 2020 and double that by the end of 2022.

The total cost of the project is estimated to reach around €300 million (£268m).

Enel CEO Francesco Starace said: “We will build a widespread and technologically advanced infrastructure, which will help increase the number of electric cars on the road in Italy and will significantly benefit the environment, the economic system, businesses and citizens, improving their daily lives as well as travel and consumption habits.”

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