InstaVolt has agreed the sale of its Spanish and Portuguese electric vehicle charging businesses to European EV charging provider Powerdot as it increases focus on growth across the UK and Ireland.
The transaction includes InstaVolt Iberia’s business operations, charging network and associated employees across Spain and Portugal.
According to InstaVolt, the agreement follows interest from a number of strategic parties and forms part of the company’s long-term growth strategy following a recent refinancing package comprising £250 million of debt facilities and £40 million of new equity investment.
Capital to support UK and Ireland expansion
InstaVolt said capital released from the transaction will be recycled into its core UK and Ireland markets, supporting acquisitions, organic growth and further network investment.
The sale follows InstaVolt’s recent acquisition of a major national brand with more than 228 locations and over 260 charging devices, strengthening its position in the UK’s ultra-rapid EV charging market.
Since entering the Iberian market in 2023, InstaVolt has developed a charging network across Spain and Portugal. Under the new agreement, Powerdot will continue the development of the network across the Iberian Peninsula.
Delvin Lane, CEO of InstaVolt, said:
“Over the past few years, we have successfully established a high-quality charging network across Spain and Portugal, supported by a dedicated local team and strong partnerships. We are immensely proud of what has been achieved and grateful to everyone who has contributed to building the business.
“We are confident that Powerdot is exceptionally well placed to continue building on those strong foundations and support the ongoing transition to electric mobility across the Iberian Peninsula.”
Focus on ultra-rapid charging growth
Lane said the transaction will allow InstaVolt to redeploy capital into markets where it sees significant growth opportunities.
“Following our recent refinancing and the significant opportunities emerging in our core markets, we carefully evaluated how best to deploy capital to maximise long-term growth and shareholder value. This agreement enables us to recycle capital into our core UK and Ireland markets, accelerating both organic growth and strategic acquisitions.”
InstaVolt said its strategy has also been reinforced by the recent acquisition of the GeniePoint network and continued investment in next-generation charging technology, battery energy storage systems and renewable energy generation.
The company is also investing in new flagship charging destinations, including a forthcoming ultra-rapid charging superhub at Chicklade on the A303, as well as the rollout of next-generation BYD chargers, including 240kW charging technology.
Supporting the transition to electric transport
InstaVolt has more than 1,200 locations secured across the UK and partnerships with brands including McDonald’s, Costa Coffee, Starbucks, British Land and LondonMetric.
The company said it will continue to invest in infrastructure designed to improve reliability, accelerate charger deployment and support lower charging costs for drivers, including off-peak charging tariffs.
For more information, visit InstaVolt and Powerdot.
Read more Climate Global News coverage of InstaVolt’s battery storage rollout and InstaVolt’s renewable electricity partnership with Octopus Energy.
