Rotterdam gets EUR 115M loan from EIB for e-bus purchase
In The Netherlands, the RET public transport operator in Rotterdam has received a funding of EUR 115 million from the European Investment Bank (EIB), for the purchase of electric and hybrid buses.
The loan granted by the EIB will be used by RET for advancing its investment programme for environmentally friendly buses in the coming years. More specifically, the EUR 115 million funding will be used by RET for purchasing 105 electric buses and 103 hybrid buses, as well as the associated charging infrastructure for the buses.
With the loan having been granted to RET, the transport operator has already placed an order for the electric and hybrid buses with Netherlands-based bus & coach manufacturer VDL.
The order includes 55 units out of the planned 105 electric buses, as well as all the planned 103 units of hybrid buses. To facilitate the operation of the electric buses in Rotterdam, 32 charging points will be installed in the depots, along with 17 additional charging points.
About the EUR 115 million loan received by RET from the EIB for the purchase of electric buses, Frank Hoevenaars -- Chief Financial Officer of RET -- said that the funds will enable the transport operator to “keep the cost of capital very low” because it will benefit from the low interest rates offered by the EIB.