Iberdrola and BP sign an alliance to deploy 11,000 charging points

The Spanish electricity company and the English oil company have just signed one of the most important agreements for the improvement of the charging infrastructure in the Iberian Peninsula. The agreement will make it possible to offer drivers more recharging points for electric cars. BP and Iberdrola have sealed an agreement valued at more than 1,000 million euros that will be allocated to the opening of 11,000 recharging pointsin addition to promoting the green hydrogen network.

Spain currently has one of the poorest charging networks in all of Europe. With just 1.1 charging points per 100 kilometers, the peninsula requires the installation of many centers in order to facilitate the expansion of the electric car, eliminating the so-called range anxiety. There are currently many plans on the table, but few of the weight and importance of the alliance signed between the two companies that are the focus of our attention today.

The plan focuses on the entire Iberian Peninsula, Spain and Portugal. 1,000 million euros of budget that will allow the opening of fast and ultra-fast public charging points in high-demand locations. At the moment nothing has transpired regarding these locations, although an improvement in the main road network is expected, contributing points to areas with lower infrastructure density, such as Extremadura.

Iberdrola-Hydrogen Center
The agreement also includes the production of green hydrogen in large quantities

The plan contemplates installing and operating 5,000 fast charging points before the end of 2025 and reaching the goal of 11,000 by 2030. To achieve this, both groups propose to include in this joint venture‘ their current and future fast charging centers. In addition, the two companies are collaborating to develop joint solutions for public and domestic charging in the UK. Iberdrola currently has more than 2,500 operating points between Spain and Portugal.

For its part, BP has already signed several alliances with different companies to improve infrastructure throughout Europe, such as the recent agreement with the Volkswagen Group. BP is a firm bettor of the top-up business. At the beginning of this year, the English company assured that it was close to reaching the same profitability in recharging electric vehicles as in the network of fuel pumps. His intention is to become one of the most important figures in the European and Spanish public network.

The agreement also contemplates giving a boost to the integrated production of green hydrogen on a large scale. The objective of the companies is to jointly develop hydrogen production centers in Spain, Portugal and the United Kingdom, with a capacity of up to 600,000 tons per year, integrating new capacity in renewable energy. The agreement will include the existing green hydrogen project developed at the refinery that BP has in Castellón.

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