BP Pulse and Iberdrola have created a new joint venture dedicated to fast and ultra-fast charging for electric vehicles. Following regulatory approval, the new company has started operations with over 300 charging points in operation.

The joint venture aims to reach 5,000 points in Spain and Portugal by 2025 and, thanks to an investment of one billion euros, it aims to have the most extensive network in the Iberian Peninsula by 2030, with 11,700 charging points.

100% renewable energy
The joint high-speed public charging project aims to respond to the growing need for a reliable charging infrastructure, the lack of which is currently one of the main barriers to the widespread use of electric vehicles. All grid charging points will also be supplied with 100% renewable energy, the source of which will be backed by guarantee of origin certificates.

The new company will leverage the strengths and resources of its partners, such as Iberdrola's comprehensive mobility services and BP's network of 1,300 service stations. Most of them can be used for the installation of fast (over 50 kilowatts) and ultra-fast (over 150 kilowatts) charging points for electric vehicles.

Integrated energy company
The company's headquarters will be located in Madrid and Porto. At the helm will be Pablo Pirles of Iberdrola as CEO and Elena Melia of BP as CFO. For the British company, electric vehicle charging is one of the main drivers of its transformation into an integrated energy company.

As Pirles explained, “Through this alliance we are seeking to make ultra-fast public charging accessible to all citizens, as the high speed of our network allows us to achieve a range of up to 200 kilometres in just a few minutes of charging. Our goal is to promote the definitive take-off in the use of electric vehicles, and we are doing this with 100% renewable energy (through guarantee of origin certificates), to help accelerate the energy transition.”

^{Photo: BP}