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EMT Valencia wins financing to expand electric bus fleet
Spanish firm to buy 145 units, install charging stations and related facilities
Michael Marray   1 Jan 2025

Public transport service operator EMT Valencia has secured a €69 million ( US$71.82 million ) loan from the European Investment Bank ( EIB ) to finance the expansion of its zero-emissions bus fleet in the Spanish city.

The project includes the purchase of 145 electric buses to replace the vehicles that have been in service in Valencia for the longest and are nearing the end of their useful life.

The EIB support will also allow EMT Valencia to install charging and electricity supply infrastructure, fire safety facilities and IT systems, and add new parking spaces to existing garages.

The planned investment will boost deployment of zero-emissions vehicles to improve the quality and sustainability of public transport in Valencia and nearby municipalities.

The project is part of the EIB Group’s efforts to promote sustainable transport, which is aligned with its strategic priority of consolidating its position as Europe’s “climate bank”. It is aligned with the EIB’s Transport Lending Policy, which prioritizes investments to improve the sustainability and resilience of existing transport infrastructure, along with new sustainable mobility projects.