The year 2024 marked a turning point in the electric mobility sector in Portugal, as service stations began to take the lead with significant investment plans and a strategic approach.
“It now feels like the true owners of the sector, the fuel stations, can no longer pretend this doesn’t exist,” states João Castro Pinheiro, CEO of INOV.EM, in an interview with Mobility Portal Europe.
He further emphasises: “They are finally realising that this is a reality”
This trend is evident in companies such as bp, Repsol, and Galp, among others, which are allocating substantial capital to the deployment of fast and ultra-fast charging points, both at their own facilities and in external locations.
The extensive reach of their stations and their strategic access to real estate assets are key factors enabling them to lead the transition.
Pinheiro explains: “In fact, they are the ones who possess the dispersed real estate infrastructure that allows for the creation of a network.”
The players and their strategies
Zunder, for instance, recently secured a green loan of 225 million euros from Banco Santander to fund its international expansion, including new stations in Portugal.
To date, the company operates in Spain, France, and Portugal with more than 800 charging points.
Meanwhile, bp pulse has ambitious plans to install up to 1,000 fast charging points by 2025 and double that figure by 2030.
Repsol, on the other hand, aims to have a “refuelling” station every 50 kilometres along the main roads of the Iberian Peninsula.
In this context, the company reinforces its commitment to the energy transition with the recent acquisition of a majority stake in Miio, the Portuguese firm specialising in electric vehicle (EV) charging solutions.
Atlante is also making significant investments in the country, with over 450 operational points and a pledge to expand this figure in the coming years.
Its focus on renewable electricity, energy storage, and photovoltaic panels at its stations represents a sustainable model for the future.
The company aims to install 5,000 fast and ultra-fast charging points in Italy, France, Spain, and Portugal by 2025, and exceed 35,000 by 2030.
Galp is innovating by installing chargers on public lamp posts, an initiative that reduces costs and optimises urban space.
According to the company, this project “minimises the occupation of public spaces and avoids major expansions of the electrical grid,” making it a viable solution for densely populated cities such as Lisbon and Porto.
Currently, Galp offers 5,500 chargers to its customers across the Iberian Peninsula, 80% of which are installed in Portugal.
PRIO, in turn, holds a prominent position in electric mobility in the country, with over 12 years of experience and more than 190 charging points distributed nationwide.
Another notable player is Cepsa, which has recently adopted the name Moeve.
The company, aspiring to become a European leader in the energy transition, is developing a comprehensive ultra-fast charging network across the Iberian Peninsula.
At present, Moeve operates approximately 29 charging points in the country.
Although there is no direct obligation for service stations to install chargers, many are adopting eMobility strategies in anticipation of growing demand for EVs.
Registrations of electric vehicles in Portugal continue to rise.
According to data from the Portuguese Automobile Association (ACAP), from January to December 2024, the EV market recorded a 14.7% growth compared to the same period the previous year, with 41,757 units registered.
Why invest in the Portuguese eMobility market?
Portugal has become fertile ground for these investments due to its advanced regulatory framework and the technical expertise accumulated in the electricity sector.
“The Portuguese code of technical rules was almost entirely derived from the French,” noted the CEO of INOV.EM.
This simplifies the bureaucratic procedures prior to installation while maintaining stricter standards during the installation and inspection phases, particularly during certification.
“In the eMobility transition, we have done very well and achieved a high standard, which provides us with significant ease to explore and expand into other markets,” Pinheiro emphasises.
He concludes: “2024 is a year that changed everything because now the true incumbents of the sector are entering the market with serious CAPEX plans.”
