EIB invests €17.5 million to expand EV charging network in Greece and Cyprus

The European Investment Bank (EIB) is providing up to 17.5 million euros in long-term venture debt financing to Joltie SA., a Greek electric vehicle charging point operator (CPO), to accelerate the roll-out of public charging infrastructure in Greece and Cyprus.

The operation is backed by the InvestEU programme and will support the installation of around 2,200 new charging points until 2029.

The project is fully aligned with the InvestEU policy objective of ‘Future Mobility’ under the Green Transition, as well as the EIB’s Climate Bank Roadmap and Transport Lending Policy.

The investment will help address key market gaps, accelerate the uptake of electric vehicles (EVs), and foster innovation in sustainable transport.

The operation supports the EIB core priorities in terms of Climate Action, Cohesion and paving a Capital Market Unition, and it is aligned with TechEU initiative addressing the needs of a fast-growing company like Joltie.

EIB Vice-President Yannis Tsakiris, says: “The EIB is committed to supporting the green transition and sustainable mobility in Europe. Our partnership with Joltie will boost EV charging infrastructure in Greece and Cyprus, helping to make electric mobility more accessible and affordable.“

“Backed by InvestEU, this financing will catalyse private investment and strengthen local capacity to deliver on our climate action objectives,” he adds.

Founded in 2022 and headquartered in Attica, Joltie combines the manufacturing of charging equipment with the operation of its own EV charging network.

Since its inception, the company has installed about one third of all charging points across Greece and operates more than 500 chargers in Greece and Cyprus.

With the new EIB financing, the CPO will expand coverage to underserved areas, including Greek islands and regional cities, and further strengthen its position in Southeast Europe’s rapidly growing EV market.

Joltie CEO said: “Electromobility is not the future—it is already here. The EIB’s investment is an institutional recognition of our fully integrated model and accelerates the development of a high-availability charging network.”

“Our goal: more choice and true convenience for drivers in Greece and Cyprus, with technology designed and manufactured here, contributing to a cleaner everyday life.”

Background information

The ElB is the long-term lending institution of the European Union, owned by its Member States.

Built around eight core priorities, the institution finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. 

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly 89 billion euros in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.   

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.   

Fostering market integration and mobilising investment, the Group supported a record of over 100 billion euros in new investment for Europe’s energy security in 2024 and mobilised 110 billion euros in growth capital for startups, scale-ups and European pioneers.

Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average. 

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