Europe’s Investment Bank (EIB) has provided EUR27.5m (US$31m) in financing to Spanish transport company, Grupo Ruiz to replace its more polluting diesel buses with 32 electric and 141 compressed natural gas alternatives.
The new vehicles will be used by public transport services in Madrid, Majorca, Badajoz, Toledo, Salamanca and Murcia, covering urban and intercity lines.
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The 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,” said Economy Commissioner, Paolo Gentiloni.
“By supporting Grupo Ruiz’s efforts to cut its bus fleet’s emissions, the Investment Plan for Europe continues to show its environmental credentials. 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 mobilised EUR458.8bn of investment across the EU, including EUR49.8bn in Spain and supported more than 1m start-ups as well as small and medium businesses.
