Zenobē and Vectalia sign €120 million leasing framework for electric buses in Spain

Zenobē and Vectalia have signed a €120 million operating lease framework agreement to support electric bus deployment and depot electrification in Spain.

The agreement, announced in Alicante on 1 June 2026, covers operating leases over a three-year period and includes fleet renewal with electric buses, charging infrastructure and depot electrification. According to Zenobē, it is the largest transaction of this kind structured by the company in Spain and Europe.

€120 million framework for buses, depots and technical services

The framework agreement is designed to provide Vectalia with access to electric vehicles, charging infrastructure and operational support under a leasing model. The scope includes electric bus leasing, depot electrification through Charging as a Service, energy management, load optimisation, infrastructure operation and maintenance.

A separate battery management framework has also been signed. Under this arrangement, Zenobē assumes battery-related risks and provides monitoring services for battery health and degradation. The structure is intended to reduce the operational exposure associated with battery performance during the life of the assets.

Vectalia’s electrification plans in Alicante

Vectalia operates urban, intercity and charter passenger transport services in Spain and Morocco. In Alicante, the company has already worked on the electrification of urban bus depots and manages a fleet in which half of the vehicles in urban service are low-emission. The current Alicante fleet includes 23 fully electric buses.

The company plans to add 27 further vehicles in the coming years, consisting of 19 electric buses and 8 hybrid buses. The new Zenobē framework agreement provides a financial and technical structure for the continuation of this fleet renewal and infrastructure programme.

Martín Navarro, Zenobē’s Director for Iberia, notes that “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 that “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.”