PGGM Infrastructure Fund (PIF) has agreed to become the largest shareholder in Electra, an operator of ultra-fast charging infrastructure for electric vehicles (EVs). The transaction is part of a funding round to facilitate Electra's continued growth. Financial terms were not disclosed.
Electra is one of the fastest-growing providers of fast-charging stations in Europe, with more than 170 stations and a presence in France, Belgium, Italy, Spain, Germany, Luxembourg, Switzerland and Austria. With PIF as a new shareholder, new capital will become available for Electra to finance an ambitious growth strategy, which is expected to lead to more than a thousand fast-charging sites in eight European countries within a few years.
Electra primarily targets locations with a mix of activities where high traffic and fast charging can be combined with visits to supermarkets, restaurants and hotels. Fast-charging facilities located along motorways account for a smaller proportion. B
