As Europe strives to boost EV uptake and meet climate targets, building more fast charging stations will be key. The European Commission is urging for 3.5 million charging points to be installed by 2030 to reach CO2 reduction targets. However, the current charging infrastructure is insufficient to meet this goal, in addition to ‘charge anxiety’ and scepticism around EVs. A significant acceleration in EV infrastructure investment will be necessary to achieve these targets and fast charging is essential for ensuring that electric vehicle driving is reliable, convenient, and enjoyable.
Since 2012, Amsterdam-founded company Fastned has been at the forefront of creating fast charging infrastructure to speed up the transition to sustainable electric mobility. The Dutch company listed on Euronext Amsterdam was the first to build and operate much of the fast charging infrastructure seen along European roads today.
“Our co-founders started Fastned to accelerate the transition to electric vehicles, and the way we have been doing that is building large charging stations, visible infrastructure on high traffic roads, starting in the Netherlands but now all across Europe,” Victor van Dijk, CFO of Fastned, shares. The company now owns and operates a growing network of over 325 fast charging stations in the Netherlands, France, Germany, the United Kingdom, Belgium, Denmark, Italy, Spain, and Switzerland. “We want to be at 1,000 stations by 2030,” van Dijk adds.
Increasing demand for investment in EV infrastructure
In 2022, Fastned outlined its ambitious growth strategy, aiming to more than triple its number of fast charging stations by 2030. BNP Paribas supported Fastned’s 2022 capital raising round, leveraging its expertise and network to connect them with the right investor. The Bank facilitated a relationship between Fastned and Schroders Capital, the private markets investment division of global asset manager Schroders, which was keen to invest in the energy transition, particularly in EV charging.
Jerome Janssen, Co-head of Infrastructure Equity Investments at Schroders Capital, France, highlights: “We felt like [Fastned] was ready to scale up, with all the tools, governance, and reporting.” Schroders Capital made a long-term strategic investment of EUR75 million to support Fastned’s growth, with BNP Paribas acting as Joint Global Coordinator and Financial Advisor in this private placement. Janssen describes the uniqueness of this partnership, in which BNP Paribas helped build the corporate-investor bridge, stating: “They make it happen, the marriage between an infrastructure equity team and a listed company.”
Fostering connections between investors and EV power pioneers
BNP Paribas has been instrumental in delivering financial solutions for EV power pioneers like Fastned and has been active in this space since 2018. The Bank’s expertise in the EV charging sector, combined with its ability to bring together investors, is enabling the transition to a cleaner mobility future.
Melissa Paterson, Senior Relationship Manager at BNP Paribas, emphasises: “We were really well prepared, when such deals come, to understand who would be interested in the EV space, and how to connect.”
Noting that a long-term mobility transition is underway, Joachim Reinboth, Co-head of Automotive & Mobility Services at BNP Paribas CIB, adds: “It was so important to also have good investors who understand the long-term aspects of this.”
The development of fast charging infrastructure, requiring substantial investment, will be pivotal in facilitating the transition. Van Dijk underlines: “EVs are going to happen. It’s inevitable. Fast charging needs to be there to make that transition.”
