Meridiam formalizes the world’s first electric vehicle project finance with BBVA

The Meridiam infrastructure fund has enlisted the services of BBVA to finance the first project finance for electric vehicles in the world. BBVA has acted as Mandated Lead Arranger in this operation, involving the participation of seven banks and a total amount of 138 million euros.

Meridiam, through its subsidiary Allego, a leading operator in the electric vehicle charging business in Europe, has become the financial sponsor of the first project finance for electric vehicles in the world. The project consists of the development, operation and maintenance of a network of ultra-fast charging points for electric vehicles in Carrefour shopping centers in France, distributed throughout the territory. This network, which aims to develop over 200 charging stations with more than 2,000 connection points in total, will be fully powered by green energy and will be operational by 2023.