InstaVolt sells Iberian charging business to Powerdot
The transaction includes InstaVolt’s charging network and employees in both countries and forms part of the company’s strategy to concentrate future investment on its core markets in the UK and Ireland.
Financial terms were not disclosed. InstaVolt said the sale follows strong interest from several strategic parties and comes shortly after the company completed a £250 million debt refinancing and secured a further £40 million in equity investment. The company is backed by investment firm EQT and a consortium of lenders.
InstaVolt entered the Iberian market in 2023 and has since built a charging network across Spain and Portugal. Following the transaction, the network will continue to operate under Powerdot’s ownership.
InstaVolt said the agreement will also enable it to redeploy charging infrastructure and capital to support growth in its home markets.
The sale follows InstaVolt’s recent acquisition of the UK charging network GeniePoint, which added more than 228 locations and over 260 charging devices to its portfolio. According to the company, the acquisition strengthens its position in the UK ultra-rapid charging market and creates opportunities for further organic growth and strategic acquisitions.
“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,” said Delvin Lane, CEO of InstaVolt, adding that Powerdot was ‘exceptionally well placed to continue building on those strong foundations and support the ongoing transition to electric mobility across the Iberian Peninsula.’
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