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BP. Bp Plc

510.40
-5.40 (-1.05%)
03 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bp Plc LSE:BP. London Ordinary Share GB0007980591 $0.25
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -5.40 -1.05% 510.40 509.40 509.50 516.60 506.10 516.30 26,147,354 16:35:10
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Petroleum Refining 211.6B 15.24B 0.8934 5.70 86.91B

BP, Iberdrola Agree to Invest EUR1 Billion in Iberian E-Vehicle Charging Joint Venture

02/03/2023 7:41am

Dow Jones News


Bp (LSE:BP.)
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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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