Allego (NYSE: ALLG), a prominent pan-European electric vehicle network, has announced securing a €20 million loan from the European Bank for Reconstruction and Development (EBRD) under the CROSS-E project, co-funded by the European Union. This financial boost will bolster Allego’s efforts to expand EV-charging infrastructure in Poland, a key part of the company’s Eastern European growth strategy.
Poland, which currently has one of the lowest rates of EV charging penetration in Europe, will benefit significantly from this development. A robust and reliable EV charging network is essential to promote electric vehicle adoption and support the European Union’s goal of decarbonizing road transport.
Allego plans to deploy over 200 recharging points for both light and heavy-duty electric vehicles (LDV/HDV) across more than 50 strategic locations in Poland. These recharging points will be integrated into Allego’s existing network, and the company will provide comprehensive maintenance and operational support. The initiative aims to enhance user experience with smart charging and efficient billing systems. The project is co-funded by the EU’s Connecting Europe Facility (CEF) program, which supports European transport infrastructure projects along the TEN-T Network and in Urban Nodes.
Gunnar Landfester, Allego’s Managing Director for Central & Eastern Europe, stated, “This financial support will drive greater EV adoption in Europe, especially in Eastern Europe. It enables us to expand our network and advance our goal of providing highly efficient charging for all EV drivers.”
Vianney Heeren, Director of Structured Finance at Allego, added, “With this financing, we can accelerate our infrastructure initiatives, ensuring Allego supports Poland’s rapid transition to electric vehicles. It reflects our business strategy’s strength in expanding operations successfully across Europe.”
