Zenobē and Vectalia sign €120 million framework agreement for electric buses
Almost a year ago, Zenobē secured a €325 million credit facility to expand its electric Fleet-as-a-Service offering across Europe. Combined with its own capital, this financing is intended to support the deployment of up to 1,000 additional battery-electric buses, electric trucks, and chargers in EU and EEA markets.
In Spain, Zenobē is already working with operator Grupo Julià to deliver a complete end-to-end electrification package for its fleet in Barcelona. The €42 million investment includes financing for 44 battery-electric buses, as well as the planning, construction, maintenance, and operation of the charging infrastructure.
The framework agreement now signed with Vectalia is significantly larger, totalling up to €120 million. According to Zenobē, this is the largest transaction of its kind the company has structured in Spain and Europe to date. The agreement spans three years.
The contract covers not only the replacement of the fleet with battery-electric buses through an operating lease model, but also charging infrastructure, depot electrification, energy and load management, as well as the operation and maintenance of the infrastructure. The companies have not disclosed details regarding the number of vehicles, manufacturers or planned locations.
Additionally, Zenobē and Vectalia have signed a framework agreement for battery management. The UK-based fleet and battery specialist will assume risks related to the batteries and provide services for monitoring battery health and degradation. This is expected to reduce Vectalia’s operational risks during electrification.
Martín Navarro, Zenobē’s Director for Iberia, noted that ‘the combination of this long-term structure and specialised technical support enables Vectalia to move more quickly toward the electrification of its fleet and the achievement of its sustainability goals, offering its users cleaner, more efficient and emission-free transportation.’ Antonio Agudo, CFO of Vectalia, added that ‘this agreement reinforces Vectalia’s commitment to sustainable mobility and to our users. Thanks to this framework leasing agreement, we will be able to accelerate the electrification of our fleets and depots, directly contributing to the reduction of emissions and moving toward more efficient, innovative and environmentally friendly public transportation.’
Vectalia operates urban, intercity, and charter transport networks in several Spanish provinces as well as in Morocco. In Alicante, 23 battery-electric buses are already in service, according to Zenobē. The company also notes that an additional 27 electrified buses are planned for the region in the coming years, including 19 battery-electric buses and eight hybrid buses. However, it remains unclear whether these vehicles are included in the newly signed framework agreement.
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