Reference: 20180326
Release date: 27 May 2019

Promoter – Financial Intermediary

MERIDIAM SAS

Location

Description

The project consists of a quasi-equity investment of Allego BV, an electrical vehicle (EV) charging solution provider with Pan-European ambitions.

Objectives

The EIB financing will allow Allego to foster its growth and market penetration thus creating new jobs, accelerating its investment plan and contributing to economic growth. This operation is part of the EGFF, a product designed to address a (quasi) equity gap linked to structural market failures across the EU in the provision of risk capital to late-stage venture-backed companies.

Comments

Allego addresses the urgent need in Europe for a sufficiently dense, harmonised charging infrastructure by providing a full range of charging solutions including installation, operation and maintenance services.

Sector(s)

Proposed EIB finance (Approximate amount)

EUR 40 million

Total cost (Approximate amount)

EUR 99 million

Environmental aspects

The project charging network components consist of short connections to the distribution grid networks and the respective charging stations. They are expected to have limited environmental impact, which will typically be related to noise nuisance and disturbance during construction. After completion, no environmental impact is expected from the ordinary operation of the stations. No environmental impact assessment is required for the project, as it does not fall under either Annex I or Annex II of the EU Environmental Impact Assessment (EIA) Directive. EV infrastructure in itself is not subject to environmental impact assessment processes under either Annex I or Annex II of the EIA Directive. However, the building of green field parking locations where the EV infrastructure is installed and/or connections to the grid may be screened in under Annex II. The Bank will require in those cases to be informed of the screening decision from Competent Authority. The project is expected to have a positive effect on the environment. The project will power electric vehicles with no emissions of pollutants and hence will contribute to meet air quality standards as set out by the EU and the World Health Organization. The project will also contribute to reduce road transport noise pollution as EVs are also much quieter than conventional vehicles. Finally, the project will have a significant impact on CO2 emissions reduction that will result from the replacement of conventional cars operating on fossil fuels with electric cars powered by less carbon intensive electricity. No major social issues are envisaged.

Procurement

The promoter has been assessed by the EIB as being a private company and hence not being subject to EU rules on public procurement or concessions.

Status

Signed - 12/12/2018

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Related tags

The Netherlands Transport