KfW Ipex-Bank is contributing €40 million (US$42.8 million) to a €400 million debt facility for Allego, a pan-European charge-point operator, to fund a pipeline of contracts and expand its network of ultra-fast electric-vehicle chargers across key sites in Germany, France and Benelux.
Société Générale acted as structuring bank. Société Générale and Banco Santander served as mandated lead arrangers and bookrunners on the facility, which was originally announced last December when it was expanded from €230 million to €400 million.
The new facility, which expires in December 2027, is in compliance with the Green Loan Principles put in place by Allego.
Allego has built an international charging network comprising of just under 40,000 public charge points throughout the pan-European market. It has 1,270 premium sites, representing around 8,400 ultra-fast charging ports. The charging solutions are connected to the proprietary platform EV Cloud.
The firm is headquartered in Arnham, the Netherlands and listed on the New York Stock Exchange.
“We are proud to announce our first financing for electric vehicle charging infrastructure,” says Andreas Ufer, a member of the management board of KfW Ipex-Bank. “Being an early mover in this nascent asset class fits very well with our longstanding practice to finance environmental and climate change mitigation projects worldwide.”
The credit facility supports EV-charging infrastructure across Europe, a segment currently substantially underserved but representing a pillar of the transition to net-zero mobility.