IP and Macquarie announce joint venture for electrification of service areas

IP, Italy's leading private fuels and mobility player, and Macquarie Capital, a leading investor and advisor in the infrastructure and renewable energy sectors, have signed a binding agreement to set up IPLANET, a 50-50 joint venture for electrification of service areas on urban and suburban roads.

The agreement was reached in the presence of Ugo Brachetti Peretti, President of IP Group api, Alberto Chiarini, CEO of IP Group api and Roberto Purcaro, Executive Director, Infrastructure & Energy Capital and Head of Macquarie Capital Italy.

"Our vision” the IP Chairman, Ugo Brachetti Peretti, commented “of service stations as key transition infrastructure comes to life with IPLANET: a multi-energy, multi-service hub meeting the different mobility needs of Italians. Together with acquisition of the ESSO Italian assets, this agreement gives our Group the scale and operational capacity needed to spread sustainable mobility: from electric to increasingly cleaner traditional fuels, from biofuels to hydrogen."

Roberto Purcaro, said “by 2030, Italy is aiming to have 6.6 million electric cars on the road and over 160k EV charging points installed across the country. We continue to assist companies in their energy transition plans and through this joint venture with IP, we look forward to playing a key role in helping to meet these ambitious targets, which form an important part of the decarbonisation of the transport sector.”

The new company will initially consist of 510 IP service areas throughout Italy, where traditional fuel pumps will begin being transitioned into electric charging stations. The transformation of the full portfolio is expected to be completed by 2032.

The charging infrastructure will be set up in service stations located on urban and extra-urban roads, near commercial or densely trafficked areas. The target, through the innovative fast+ (150 kW) and ultrafast (of at least 300 kW) technologies available at IPLANET stations, is to enable travellers to recharge in about 15 minutes, reducing waiting times and facilitating the increased use of electric cars.

The recharging experience will be supported by new traveller services in the catering, shopping and car care fields. In many IPLANET service areas, electricity is intended to be supplied by solar panels installed on site and managed by battery storage systems for an optimal use of the renewable source.

The creation of IPLANET and the resulting electric recharging infrastructure development plan will facilitate a more sustainable mobility sector, in line with national and European guidelines. Furthermore, this month IP was awarded €29.3 million in funding as part of the EU Connecting Europe Facility (CEF) project specifically for the installation of electric rechargers.

The effectiveness of the operation, with its closing expected by the end of the 2023, is subject to approval of the relevant authorities.

About IP api Group

IP api Group has been active in the fuel and mobility sector since 1933. With approximately 1,600 employees, a network of more than 4,500 IP-branded service stations, a crude oil processing capacity of around 10 Mton in two refineries, and a logistics presence throughout the country, it is the largest private operator in the sector.