Zenobē and Vectalia sign €120m electrification leasing agreement

Zenobē and Spanish transport operator Vectalia have signed a framework agreement worth up to €120 million to accelerate the electrification of bus fleets and depot infrastructure across Spain.

The three-year agreement will support the operating lease of electric buses and the deployment of charging infrastructure, including depot electrification projects. According to Zenobē, it represents the largest operating lease transaction of its kind that the company has structured in Spain and Europe to date.

The partnership is designed to help Vectalia accelerate its decarbonisation strategy by providing access to a fully integrated solution covering vehicle leasing, charging infrastructure and specialist technical support.

Alongside the leasing framework, the companies have also signed a battery management agreement under which Zenobē will assume battery-related risks and provide ongoing monitoring of battery health and degradation. The arrangement is intended to reduce operational and financial risks associated with fleet electrification.

Martín Navarro, Director for Iberia at Zenobē, said: “The combination of this long-term structure and specialised technical support enables Vectalia to move more quickly toward the electrification of its fleet and the achievement of its sustainability goals, offering its users cleaner, more efficient and emission-free transportation.”

Antonio Agudo, CFO of Vectalia, added: “This agreement reinforces Vectalia’s commitment to sustainable mobility and to our users. Thanks to this framework leasing agreement, we will be able to accelerate the electrification of our fleets and depots, directly contributing to the reduction of emissions and moving toward more efficient, innovative and environmentally friendly public transportation.”

The agreement strengthens Zenobē’s presence in the Spanish market, where the company is expanding its role as a provider of electrification solutions for heavy-duty transport. Its offering includes electric bus and truck leasing, charging-as-a-service infrastructure, energy management, load optimisation, and infrastructure operation and maintenance.

For Vectalia, the deal supports its broader sustainability strategy and builds on existing electrification projects. The company has already electrified urban bus depots in Alicante and operates one of Spain’s most sustainable public transport fleets. Around half of Alicante’s urban buses are now low-emission vehicles, including 23 fully electric buses, with plans to add a further 27 vehicles in the coming years, 19 of which will be electric.