PGGM, Eurazeo chip into €304 million round for Electra

European investment group Eurazeo and PGGM Investment Management, part of Dutch pension investor PGGM, have contributed to a €304 million ($330 million) funding round for Electra, a French company specialised in electric vehicle (EV) charging. Eurazeo, which had acquired a first stake in Electra in 2022, invested through its Transition Infrastructure Fund specialised in sustainable assets, while the Dutch asset owner used its PGGM Infrastructure Fund (PIF). Following this round, PGGM will be the largest shareholder in Electra, and PIF will manage a total €14 billion in assets across various infrastructure sectors, including energy. According to PGGM, the investment aligns with the UN Sustainable Development Goal 7 (SDG7), which calls for “affordable, reliable, sustainable and modern energy for all” by 2030, and should contribute to carbon emissions reduction. “We are really pleased about the scale of the funds raised by Electra, which sees the arrival of high-profile investors,” said Melissa Cohen, Managing Director for Infrastructure investments at Eurazeo. “We are proud to reiterate our support and help driving the transition toward a low-carbon economy by encouraging people to adopt EVs, which is in line with our sustainable investment objectives.” Electra has so far developed a network of 1,000 EV charging stations in eight EU countries, and plans to use the new funding to continue its expansion across Europe. “[We] fully supports Electra’s ambition to become a pan-European player in the market for ultra-rapid EV charging,” said Dennis van Alphen, Director of Investment in Infrastructure at PGGM. “Here, policyholders’ investments are allocated to financing the transition toward sustainable electric mobility, thereby contributing to the sustainability objective, which is key to our clients.”

The practical information hub for asset owners looking to invest successfully and sustainably for the long term. As best practice evolves, we will share the news, insights and data to guide asset owners on their individual journey to ESG integration.

Copyright © 2024 ESG Investor Ltd. Company No. 12893343. ESG Investor Ltd, Fox Court, 14 Grays Inn Road, London, WC1X 8HN

To Top