NL: Park ‘n Charge to double charging network
Dutch charge point operator Park’ n Charge announces financing of €16.4 mn through Rabobank. The company wants to spend the money on doubling its network of six thousand charging stations in the Netherlands in the next two years.
As the company name suggests, Park’n Charge focuses on AC charging during parking. At the same time, in today’s statement, the company spins the broader view that European legislation will require 514,000 public charge points in the Netherlands by 2030. The EU plans to phase out the sale of new fossil-fuel-powered vehicles by 2035. However, the Dutch government hopes to achieve this goal by 2030.
“With this funding, we can contribute with over 75 charging points per week,” company founder Gerwin Hop said.
However, of the amount above, which comes entirely from Rabobank, only ten million euros will go towards building new charging stations as “growth financing”. Park’ n Charge requires the remaining €6.4 mn to refinance previous loans. However, even with the ten million euros, CFO Stephan van Dongen speaks of “sufficient clout to respond to the need of a rapidly growing charging network”.
Rabobank has provided the funding through its ‘Rabo Real Asset Loan’ designed to promote companies that offer Energy-as-a-Service.
“By supporting companies like Park ‘n Charge, we want to put Energy-as-a-Service on the map and make the energy transition accessible to everyone,” Says Ronald Linthorst, Deal Captain REAL at Rabobank.
Since Charge n Park not only runs but also offers installations (and applies for permits), founder Hop is also calling for simplified legislation processes since CPOs were “still subject to an excess of regulations – from smart charging rules to cyber security and from the readability of text on the charging stations to the colours of the lights.” He added, “To reinforce the development, it is important that municipalities have all charging station operators who meet the quality criteria to install charging stations. The so-called open-permit model.”
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