European Investment Bank funds to finance CNG buses in Spain

January 10, 2020. The European Investment Bank (EIB) has provided €27.5 million in financing to Spanish transport company Grupo Ruiz to replace its more polluting diesel buses with 32 electric and 141 compressed natural gas (CNG) alternatives, the European Commission said. The new green vehicles will be used by public transport services in Madrid, Mallorca, Badajoz, Toledo, Salamanca and Murcia, covering both urban and intercity lines. They will enter service over the next two years and will help to improve air quality in these cities. Grupo Ruiz’s EIB-financed investments include the construction of three new electric charging stations in Badajoz, Alcudia and Palma de Mallorca.

This project is supported by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe.

“Making the European transport sector more sustainable is a key component of the European Green Deal. By supporting Grupo Ruiz’s efforts to cut its bus fleet’s emissions, the Investment Plan for Europe continues to show its environmental credentials,” European Economy Commissioner Paolo Gentiloni said. “I hope we will see an increasing number of companies replacing their polluting vehicles for cleaner alternatives in the near future, taking advantage of EU financial support.”

As of December 2019, the Investment Plan had mobilized €458.8 billion of investment across the EU, including €49.8 billion in Spain, and supported more than one million start-ups and small and medium businesses.

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