Fastned, the Dutch fast-charging network operator, is advancing its expansion strategy with a goal of operating 1,000 charging parks across Europe by 2030. The company’s latest annual report highlights steady growth, with 346 active locations in seven countries and an additional 139 sites secured for future development.
Fastned, one of Europe’s leading high-power charging (HPC) operators, saw its network grow to 2,109 charging points in 2024—marking a 23% increase compared to the previous year. The number of charging sessions also rose by 35% to five million, while renewable energy delivered at its stations climbed 41% year-on-year to 140 GWh.
“The number of charging sessions per site increased, meaning users charged more energy per session,” Fastned stated in its report.
Expansion Plans and Market Growth
The Netherlands remains Fastned’s core market, hosting 181 locations. The company also operates 44 sites in France, 42 in Germany, 36 in Belgium, 30 in the UK, 10 in Switzerland, and three in Denmark. In 2024, Fastned added six new stations in France and three in Germany. Looking ahead, the company plans to enter Italy and Spain while targeting Poland and Ireland for further expansion.
Germany led in new development sites secured last year, with 50 locations added, followed by France (19), the UK (17), Switzerland (16), and Belgium (13). Fastned attributed its growth to successful tenders, such as securing locations through Germany’s Deutschlandnetz program and forming partnerships like its collaboration with Places for London.
“During 2024, we achieved significant tender victories and forged innovative new partnerships,” the company stated. “More locations were secured in the first quarter alone than in the entire year of 2023.”
Financial Performance and Investment
Fastned reported a positive EBITDA for the second consecutive year, reaching €7.4 million in 2024, up from €4.6 million in 2023. Revenue increased 43% year-on-year to €86 million. Average annual revenue per station rose to €270,000 (+21%), while the average volume per station climbed to 440 MWh (+20%).
Operating expenses grew in line with network expansion, reaching nearly €36 million in 2024. Expansion costs were estimated at €23 million, reflecting Fastned’s continued investment in its HPC network. The company also raised €82 million through three bond issuances last year.
Co-founder and CEO Michiel Langezaal expressed confidence in the company’s trajectory. “I am delighted with our highly encouraging results in 2024. Our roll-out continues to accelerate, and our outstanding station economics has brought record revenues and a leading position in the fast-charging market,” he said. “Europe’s goal of an electric-only future by 2035 has been reaffirmed, and these results give me great confidence that we will play a key role in this transition as we continue scaling at pace.”
Industry Outlook
Despite slower electric vehicle adoption in some markets, Fastned remains committed to its 2030 target. This contrasts with recent adjustments from industry peers, such as Germany’s EnBW, which scaled back its target from 30,000 fast-charging points to ‘over 20,000’ by the decade’s end.
Fastned’s expansion efforts come as Europe accelerates its transition to electric mobility, with increasing demand for public fast-charging infrastructure. The company’s continued growth positions it as a key player in the continent’s EV charging landscape.