Electric vehicle (EV) charging operator GreenWay has secured up to €138 million ($160.7 million) in green debt financing from a consortium of European financial institutions. The transaction represents a first-of-its-kind debt financing structure for a pure-play EV charging operator within Central and Eastern Europe (CEE).
The banking syndicate comprises Crédit Mutuel Arkéa, the European Bank for Reconstruction and Development (EBRD)—supported by the InvestEU programme—ING Bank Śląski, and mBank, which also acted as facility agent, security agent, and green loan coordinator.
The transaction is structured to include a €113 million package split across a refinancing facility, a capital expenditure (CAPEX) facility, and a working capital facility, alongside an additional €25 million uncommitted extension facility. The fresh capital will be deployed to reinforce GreenWay’s market-leading position in Poland and to scale up its customer-facing infrastructure across Slovakia, Croatia, and the broader CEE territory.
Securing large-scale institutional debt financing marks a critical phase in the maturation of regional charge point operators, providing the liquidity necessary to achieve economies of scale and improve overall user experience. With this latest agreement, GreenWay has raised up to €258 million to date for electromobility deployment in the CEE region. The company’s financial backers include international infrastructure funds such as Generation Capital, Helios Energy Investments, and Mirova, alongside early-stage venture investors Janom Investments and Neulogy Ventures.
GreenWay’s historical funding timeline includes being the first regional entity to secure Connecting Europe Facility (CEF) and Alternative Fuels Infrastructure Facility (AFIF) grants from the European Commission for public charging infrastructure in Slovakia (2013) and Poland (2016). It also secured the InnovFin award and financing from the European Investment Bank in 2018, alongside subsidies from the Polish National Fund for Environmental Protection and Water Management (NFOŚiGW).
To execute the transaction, ING Corporate Finance operated as the sole financial advisor to GreenWay. Additional advisory services were provided by EY-Parthenon GmbH (commercial), ARUP (technical), Clifford Chance (legal counsel for GreenWay), Addleshaw Goddard (legal counsel for the lenders), KPMG (financial due diligence), Ester S.A.S (hedging), and Mazars (financial model auditor).
At present, GreenWay operates a network of more than 5,800 charging points across 1,680 locations, commanding a registered market share of over 90 per cent among EV drivers within its core operating countries.
