Reference: 20190230
Release date: 29 May 2019

Promoter – Financial Intermediary

BE CHARGE SRL

Location

Description

The project consists of the financing of the expansion of the electric vehicles charging ("EVC") infrastructure accross Italy by BeCharge. The company expects to install 3 700 EVC by 2024.

Objectives

The project will contribute to push the transition towards lower carbon transport vehicles. The project is in line with EU Directive on Alternative Fuels 2014/94/EU, which has set out minimum requirements for the building up of electric vehicles charging infrastructure. Finally, part of the investment is expected to take place in cohesion regions. The project is therefore eligible under Article 309 point (a) projects for developing less-developed regions and point (c) common interest.

Sector(s)

Proposed EIB finance (Approximate amount)

EUR 25 million

Total cost (Approximate amount)

EUR 75 million

Environmental aspects

The project 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. The electric vehicles (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 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 European Union (EU) and the World Health Organization (WHO). 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 carbon dioxide (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; nonetheless social impact of the project will be further assessed during the appraisal.

Procurement

The promoter has been assessed by the EIB as being a private company sitting outside regulated activity of its parent company and hence not being subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation Directive 2014/25/EU or 2004/17/EC, where applicable, then the Bank would require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation 2014/25/EU or 2004/17/EC, where applicable, as well as Directive 92/13/EEC as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required.

Status

Signed - 16/12/2019

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

Italy Transport