The European Investment Bank (EIB) is providing €27.5 million (£23m) to finance the introduction of less polluting buses in Spain.
It will support the modernisation of Grupo Ruiz’s bus fleet with the rollout of 32 electric and 141 compressed natural gas (CNG) buses, which will provide public transport services in Badajoz, Madrid, Majorca, Murci, Salamanca and Toledo.
They will enter service over the next two years and help improve air quality in the cities.
The financing will also support the construction of three new charging stations in Badajoz, Alcudia and Palma de Mallorca.
Grupo Ruiz CEO Gregorio Ruiz said: “We are very aware of our responsibility in one of the big challenges of this century: working together to protect the environment.
“Mobility sector players have a key role in this, which is why we are committed to continuing to promote far more sustainable transport; a journey that we already began over 25 years ago with our first natural gas-powered buses. The agreement between the EIB and Grupo Ruiz shows how important it is to join forces to achieve this goal.”
The EIB intends to gradually increase its financing for climate and environmental projects up to 50% by 2025.