Fastned lands France and €17M for further growth

Nieke Roos
Leestijd: 1 minuut

Fastned has been selected by Autoroutes Paris-Rhin-Rhône (APRR), the French motorway and toll road group, to develop and operate nine fast-charging stations along key motorways in France. Upon approval by the French Ministry of Transportation, it will mark the Amsterdam company’s entry into the French market, where electric charging infrastructure is still sparse. The announcement follows the news that Fastned has raised over 17 million euros with the issue of bonds.

The contract with APRR will enable the build of large fast-charging stations on nine sites directly along the highway from Paris to Lyon, on the route to Switzerland, and around Dijon, ensuring electric drivers can travel the Autoroute du Soleil from France’s capital to Lyon without difficulty. Construction is planned for 2021 after which Fastned will operate the stations for 14 years. At each location, the company plans to build a facility capable of charging up to 16 vehicles simultaneously. The stations will feature a roof with photovoltaic cells and deliver 100 percent renewable energy derived from a mix of wind and solar sources.

From 22 October to 19 November, investors could subscribe to Fastned bonds with 6 percent interest and a maturity of five years. Furthermore, an offer was made to earlier backers to extend their funding by exchanging their older bonds for bonds in this new issue. The latter has yielded close to 4 million euros, bringing the total issued amount in this round to more than 21 million euros.

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