PGGM Infrastructure Fund acquires stake in charging station operator Electra

PGGM Infrastructure Fund (PIF) has signed an agreement to become the largest shareholder in Electra, operator of (ultra)fast charging infrastructure for electrically powered vehicles (EV). The transaction is part of a funding round to facilitate Electra's continued growth. Electra is one of the fastest-growing providers of fast charging stations in Europe with currently over 170 stations and an established presence in eight countries.

With PGGM Infrastructure Fund as a new shareholder, new capital will become available for Electra to finance an ambitious growth strategy, which should lead to more than a thousand fast-charging sites in eight European countries in a few years' time. The enterprise is present in France, Belgium, Italy, Spain, Germany, Luxembourg, Switzerland and Austria. By 2030, the business expects to have actively contributed to the prevention of 4,4 million tons of CO2 emissions.

For PGGM Infrastructure Fund, the acquisition is the first investment in this market, as part of its existing portfolio of investments in the energy infrastructure. The PIF portfolio now contains thirty-seven investments over different infrastructure sectors with total assets under management of about EUR 14 billion.

Electra mainly targets locations where a mix of activities come together and where high traffic and fast charging can be combined with, for example, visits to supermarkets, restaurants and hotels. Fast charging facilities located along motorways account for a smaller proportion. Electra is dedicated to facilitating the switch to electric vehicles by providing an extensive and seamless network, making the transition both easy and effortless for everyone.

Dennis van Alphen, head of Infrastructure Investments at PGGM:
“PGGM Infrastructure Fund fully supports Electra's ambition to become a pan-European player in the market of (ultra)fast charging facilities for EVs. The enterprise has excellent management and a strong position with good locations in a very dynamic market that is expected to grow rapidly in Europe in the coming years.

This investment in Electra offers our clients, including Pensioenfonds Zorg en Welzijn (PFZW), an excellent and predictable long-term return. Here, fund participants' pension money is used to finance the transition to electrified and sustainable transport. And contributing to an important sustainability goal of our clients. A good pension for the participants of our clients and a sustainable future therefore go hand in hand.”

The investment classifies as an SDG7 investment (availability of affordable and clean energy) and will measurably contribute to CO2 emissions avoidance. PFZW aims to have fifteen per cent of its portfolio consisting of investments that contribute to climate-related SDGs by 2030.

Aurélien de Meaux, CEO of Electra:
"We are delighted to welcome PGGM as a shareholder in Electra. The support of a reputable investor with an international presence and a strong commitment to the energy transition is a significant vote of confidence that will accelerate Electra's deployment ambitions. We will continue to develop our fast-charging network for electric vehicles in several European countries to facilitate the transition to cleaner mobility. The shift to electric vehicles should be simple and convenient for users, and that is the proposition of Electra."

About PGGM Investment Management
PGGM Investment Management is part of the Dutch not-for-profit pension fund service provider PGGM. It fulfils a social mandate: the sustainable investment of the pension capital of around 3 million participants of PFZW, the pension scheme for the Dutch health and welfare sector. On 31 December 2023, PGGM IM managed EUR 240 billion in public and private markets globally.
More information about PGGM IM: https://www.pggm.nl/media/fz5j3qte/jaarverslag-pggm-vermogensbeheer-bv-2022.pdf

About Electra
Electra is the first French pure player in the electric vehicle charging industry. Its ambition : to definitively erase friction around electric vehicle adoption thanks to a massive, fast and efficient charging network. The company is trusted by major groups such as Vinci Autoroutes, AccorInvest, LSGI, Altarea Commerce, Indigo, Louvre Hotels Group, Primonial REIM France, Chopard Group, Jardiland and Delhaize Group in Belgium. Present in 8 countries, the company builds and operates a network that is now based on more than 1,000 charging points with a goal of 15,000 by 2030. With a team of 180 specialists, Electra invests heavily in innovation and research to offer a simplified user experience to the maximum. Winner of French Tech Next 40 and France 2030, Electra recently received the European Scale Up of the Year Award.