Powerdot, Europe’s leading EV charging point operator, announces obtaining €165 million in green financing from ABN Amro, BNP Paribas, ING, MUFG Bank, Santander, and Société Générale to significantly bolster its ambitious goal of further deploying ultra-fast power charging points.
This financing marks a pivotal moment in Powerdot’s mission to enhance electric vehicle infrastructure throughout Europe and the transition towards net-zero transport, further solidifying its leading industry position. Additionally, Powerdot has secured more than €465 million in funding commitments to date, underscoring robust company growth and continued investor confidence.
Each participating bank has collectively demonstrated their strong commitment to supporting sustainable initiatives and the development of green infrastructure. This multi-bank participation reiterates the widespread confidence in Powerdot’s vision and operational capabilities, reflecting a collaborative effort to drive significant advancements in the EV charging sector.
Luís Santiago Pinto, Powerdot co-founder and CEO, remarked, “This substantial financing is a testament to our financial partners’ confidence in Powerdot’s vision and operational capabilities. With this funding, we are poised to accelerate our deployment strategy, bringing EV charging solutions to more European locations and supporting widespread transition to sustainable transportation.” he adds, “Powerdot’s long-term ambition and goals allow us to explore different financial tools for funding. With great excitement, we welcome ABN Amro, BNP Paribas, ING, MUFG Bank, Santander, and Société Générale to our mission of accelerating sustainable mobility.”
The €165 million green financing facility – with an additional €60 million of uncommitted accordion facility – will expand Powerdot’s network of EV charging points to reach more than 3,100 locations by 2026, enhance the technology and user experience, and grow and develop its team. This green financing has been structured according to the Green Loan Principles defined by the Loan Market Association and constitutes a strategic milestone to reflect the company’s commitment to low-carbon mobility and innovation. With this investment, Powerdot is well-positioned to lead the charge in building robust and reliable EV charging infrastructure, facilitating the adoption of electric vehicles, and contributing to a greener future for all.
As part of this financing, Santander acted as sole financial advisor and green financing coordinator, McKinsey & Co. acted as commercial and technical adviser, Clifford Chance and PLMJ acted as legal advisers to Powerdot. Gibson Dunn and Morais Leitão acted as legal advisers to lenders, and EY acted as financial and tax adviser and model auditor.
