The Czech Energy Group (CEZ) has been tasked with setting up fast charging stations in Hungary. The expansion is part of a $44M investment, first in their home nation before coming to Hungary, Bulgaria, Poland, Romania and Slovakia in the next decade.
CEZ plans to expand a fast charging network across the eastern European nations, as the company estimates that about 10,000 EVs will be on Czech roads alone by 2020, with 250,000 expected in 2030. In response to the growing e-mobility trends, the company will begin expanding before the year is out, planning to double their current charging stations in operation for a total of over 150 by the end of 2019.
The fast charging network, which will comprise of 50 kW fast chargers capable of serving both CHAdeMO and CCS standards, will cost around 1 billion Czech crowns, or about $44 million over the next ten years. About half the financing is expected to come from subsidies from the various nations involved. CEZ is also looking at opportunities for acquisitions to help speed up their growth.
“We will logically look at countries where we are already active,” said Tomas Chmelik, head of clean technologies at CEZ. “Utilities are looking to build networks over the long run and I expect the market to get consolidated in the next five years.”