Iberdrola and BNP Paribas transform electric car leasing in Spain

Iberdrola and BNP Paribas launch a sustainable mobility solution integrating electric vehicle leasing, charging point installation and energy consumption.

Electric utility Iberdrola and BNP Paribas have launched an innovative all-inclusive offering for individuals and companies in Spain including the leasing of electric vehicles through BNP Paribas subsidiary Arval, the installation of charging points financed by BNP Paribas Leasing Solutions and energy consumption for the kilometres contracted, supplied by Iberdrola.

“The agreement shows the ambition of both groups to continue promoting transport electrification.”

Raquel Blanco, Iberdrola Global Director of Smart Mobility

Iberdrola will also install charging infrastructure at BNP Paribas Group offices – allowing clients and employees to charge their electric vehicles with guaranteed green energy – and will promote charging points to key real estate operators and in shopping centres in collaboration with BNP Paribas Real Estate.
Finally, under the agreement BNP Paribas’ leasing and consumer loan subsidiaries will design and launch financing solutions for smart mobility and solar energy self-consumption solutions for Iberdrola customers in Spain and other European countries.

Raquel Blanco, Iberdrola Global Director of Smart Mobility, said: “The agreement shows the ambition of both groups to continue promoting transport electrification and confirms the need to continue collaborating with all agents in the sector to respond to the challenges of mobility based on clean energy with no CO2 emissions. Together with BNP Paribas, Iberdrola has also designed a comprehensive and unique proposal that meets the needs of one of the fastest growing segments in the field of transport electrification: fleets for last-mile delivery of online purchases.”

Alberto Sarricolea, Head of Corporate Banking at BNP Paribas in Spain, said: “This agreement means making many of our capabilities (renting, leasing, real estate and consumer credit services) available to customers with whom the company has a close relationship, in Spain and abroad.” He added that the agreement also “fits perfectly with BNP Paribas’ ambitions in terms of sustainability”.

The collaboration on sustainable mobility strengthens the historical relationship between the two companies: BNP Paribas is a partner of Iberdrola for corporate and investment banking activities and, through Arval, is the supplier of electric vehicles for its fleet.

Iberdrola sees transport electrification as part of its strategy for the transition to a decarbonised economy and a key lever for reducing emissions and pollution, and delivering a green recovery. It has set in motion a sustainable mobility plan, with an investment of €150 million, to accelerate deployment of charging points for electric vehicles over the coming years.