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In Spain, Grupo Ruiz has secured a EUR27.5 million from the European Investment Bank to replace diesel and petrol buses with more modern and less polluting buses.

The loan will fund 32 electric and 141 compressed natural gas buses to reduce carbon emissions from public transportation in Madrid, Majorca, Badajoz, Toledo, Salamanca and Murcia.

Some three new electric charging stations will also be built in Badajoz, Alcudia and Palma de Mallorca.

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The European Investment Bank

The loan has been issued through the Investment Plan for Europe as part of the European Fund for Strategic Investments.

The EU and the European Commission have helped Spain to accelerate the electrification of the transport industry through the Cleaner Transport Facility since 2016.

The loan is the fifth to be financed by the EIB in Spain under this initiative, for which it has provided almost EUR 230 million, and is expected to create 360 jobs during the project’s implementation phase.

EIB Vice-President Emma Navarro, said: “Supporting sustainable public transport that cuts polluting emissions is among the EIB’s key priorities. As the EU climate bank, we are determined to dedicate more resources to supporting investments promoting climate action while also generating economic growth and jobs. This project is a good example of this, and also shows the positive impact of EIB financing on people’s lives, helping to improve air quality in our cities.”

Grupo Ruiz CEO Gregorio Ruiz said the following at the signing ceremony: “We are very aware of our responsibility in one of the big challenges of this century: working together to protect the environment. Mobility sector players have a key role in this, which is why we are committed to continuing to promote far more sustainable transport; a journey that we already began over 25 years ago with our first natural gas-powered buses. The agreement between the EIB and Grupo Ruiz shows how important it is to join forces to achieve this goal.”