The Dutch fast-charging company Fastned has won a tender to construct a ‘super charging plaza’ in France, a dedicated one with all services, similar to the one recently opened in Gentbrugge, Belgium.
The location in Saint-Yvi, Bretagne, will offer six 400 kW fast chargers, one of which will be suitable for e-trucks, supplemented by a shop, sanitary facilities, and plenty of greenery. The opening is planned for 2026.
Still 620 to go
The Fastned charging station will be located along Route nationale 165, a road used by more than 28,000 vehicles every day and part of the continental E60 network.
France thus becomes the second country to embrace Fastned’s vision of “the service area of the future”. In September, the company opened its first ‘full-service’ fast-charging station in Gentbrugge, Belgium. In addition to charging stations, there is also a restaurant, showers, and restrooms.
Fastned currently operates more than 380 charging stations in Europe, including more than 50 in France and nearly 50 in Belgium. In the third quarter of this year, it posted record revenues of 31.5 million euros, up 44% on the same period last year. By 2030, it aims to have 1,000 stations.
Retail bonds
The company is 70% owned by its two founders, Bart Lubbers and Michiel Langezaal, but has no financially strong shareholders. That is why its financing strategy relies on the issuance of retail bonds (in this case with a relatively high interest rate of 6% per annum) aimed at private and smaller institutional investors.
This year, for example, Fastned raised more than 110 million euros in this way. The value of the fast-growing Fastned is currently estimated at 400 to 450 million euros, more than three times its equity capital of almost 123 million euros at the end of 2024.
Fastned focuses purely on large, iconic fast-charging stations in prime locations along highways and major thoroughfares. The stations are known for their yellow roof structures and their focus on 100% sustainably generated energy. The customer experience – speed, reliability, and comfort – is a core value.
However, the company must recoup the higher costs of its prime locations and premium service through its prices, which could be a point of competition in the future. At the same time, since April, it has also been working with its main competitors, Electra, Atlante, and IONITY. The alliance aims to simplify fast charging for EVs across Europe. The ‘maze’ of different apps, passes, and pricing structures must disappear.
