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| Name | Symbol | Market | Type |
|---|---|---|---|
| BP Plc | NYSE:BP | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.54 | 1.41% | 38.76 | 38.84 | 38.44 | 38.50 | 7,067,816 | 19:11:10 |
From May 2022 to May 2024
By Ed Frankl
BP PLC and Iberdrola SA have agreed to set up a joint venture and invest around 1 billion euros ($1.07 billion) by 2030 in charging infrastructure in Spain and Portugal, the Spanish energy company said Thursday.
The strategic alliance will deploy 12,000 fast-charge points by the end of the decade, through a company 50% owned by Iberdrola Clientes and by BP's Spanish subsidiary BP Energia, Iberdrola said.
The company will in turn incorporate a 100% Portuguese subsidiary to carry on its business in that jurisdiction, it said.
In July, BP and Iberdrola said they would form a joint venture that included installing 5,000 fast-charge points by 2025, and that they were also looking at options to jointly serve e-vehicle customers in the U.K.
The deal won't have a financial impact on Iberdrola's 2023 results, the company said.
Write to Ed Frankl at edward.frankl@wsj.com
(END) Dow Jones Newswires
March 02, 2023 02:26 ET (07:26 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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