InstaVolt has agreed to sell its electric vehicle (EV) charging operations in Spain and Portugal to Powerdot, allowing the UK-based charge point operator to focus future investment on expanding its network across the UK and Ireland.
Financial terms of the transaction were not disclosed.
Focus Shifts to Core Markets
The transaction includes InstaVolt’s charging network and employees in both Spain and Portugal. The company said the divestment forms part of its long-term strategy to concentrate investment and operational resources on its core markets in the UK and Ireland.
InstaVolt noted that the sale follows interest from several strategic buyers and comes shortly after it completed a £250 million debt refinancing alongside securing an additional £40 million in equity investment. The company is backed by investment firm EQT and a consortium of lenders.
Iberian Network Transfers to Powerdot
InstaVolt entered the Iberian market in 2023 and has since developed an EV charging network across Spain and Portugal. Following completion of the transaction, the charging network will continue operating under Powerdot’s ownership.
The company said the sale will also allow it to redeploy charging infrastructure and investment capital to accelerate expansion in its home markets.
The announcement follows InstaVolt’s recent acquisition of the GeniePoint charging network in the UK, adding more than 228 locations and over 260 charging devices to its portfolio. According to the company, the acquisition strengthens its position in the UK’s ultra-rapid charging market while creating opportunities for further organic growth and future acquisitions.
Delvin Lane, Chief Executive Officer of InstaVolt, said the company had successfully established a strong presence in Spain and Portugal over the past few years.
“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.”
He added that Powerdot is “exceptionally well placed to continue building on those strong foundations and support the ongoing transition to electric mobility across the Iberian Peninsula.”
