Crédit Agricole CIB closes the financing for IPlanet EV charging Network in Italy
Crédit Agricole CIB acted as Mandated Lead Arranger and Hedging Bank as well as co-Sustainability Coordinator for IPlanet, a 50/50 joint venture of Macquarie Capital and IP specialised for the electrification of service areas on urban and suburban roads. Their objective is to become a multi-energy and multi-service hub meeting the different mobility needs of Italians.
Over the next 3 years, IPlanet has an investment plan of over EUR 200 million to roll out the electric vehicle-charging infrastructure in the first 300 service stations. The transformation of the full portfolio is expected to be completed by 2032 and will facilitate a more sustainable mobility sector, in line with national and European guidelines.
This financing will support the roll-out of an electric vehicle (EV) charging network across a selected portfolio of approximately 500 existing IP’s service stations in Italy.
The project represents a pioneering transaction in the infrastructure project financing space and a landmark opportunity in the Italian EV fast changing market where IPlanet is amongst the first movers.
This transaction is in line with Crédit Agricole Group's ambitions to actively contribute to the world's energy transition and support the global effort towards carbon neutrality.
Kudos to Macquarie and IP, we are proud to have supported them in this landmark transaction propelling Italy to the forefront of EV charging sector and matching CA-CIB ambitions to support clients in their energy transition commitments.
Jamie Mabilat
Senior Country Officer Italy
In a rapidly growing market, this deal sets an innovative standard, supporting clients to transition their traditional fuel business to EV fast charging assets, this showcases Crédit Agricole CIB strategic foresight and ability to take a leading role in decarbonising the Infrastructure transport sector.
Matthew Norman
Global Head of Infrastructure & Advisory