EIB provides €69 million loan to EMT Valencia

The public transport operator EMT Valencia is receiving a loan of 69 million euros from the European Investment Bank to purchase 145 electric buses and the necessary infrastructure. The buses will replace vehicles that have been in use in Valencia and are nearing the end of their useful life.

Alongside the newly announced acquisition plans, EMT Valencia has stated the goal of hitting a fleet of 527 electric buses by 2028. To achieve this, EMT has a 172 million investment plan to buy 215 electric and hybrid buses and adapt all its facilities.

Alongside the infrastructure installation, the loan will also enable EMT Valencia to install new fire safety facilities and IT systems, and add new parking spaces to existing garages.

“We are acting without delay, because we have a very clear line of action. We want the best EMT, the most advanced and sustainable. Last week the loans were authorised and today we begin the path towards a new municipal transport company,” stated Jesús Carbonell, EMT President and Councillor for Mobility.

“Between 2016 and 2023, the previous municipal government invested 130 million euros, i.e. 40 million less, in almost twice the time. The investment of the previous managers of the municipal company was 16.3 million each year, while now it will be 34.3 million annually. The increase in investment is 111% with the current municipal government,” Carbonell added.

The European Investment Bank has been actively investing in the development of new technologies, as well as commercial production efforts over the past years. In 2024, the EIB helped fund silicone anode production in Germany, as well as providing a boost to Volvo’s operations in Europe. At the beginning of the year, Schaeffler also received a major loan from the European Investment Bank.

eib.org, valencia.es (in Spanish)