Gridserve reveals plans for 500 additional Electric Forecourts and Super Hubs.

Gridserve reveals plans for 500 additional Electric Forecourts and Super Hubs.

Gridserve, a sustainable energy company, has secured a groundbreaking investment of £526 million, the largest debt raise ever achieved by a privately-owned charge point operator. This significant investment demonstrates the market’s confidence in the transition to electric mobility and Gridserve’s mission to accelerate the adoption of net zero transport.

The financing includes £326 million in committed loan facilities and an additional £200 million uncommitted accordion facility for future assets. These funds will be used to upgrade and expand Gridserve’s UK network, which will see the installation of over 500 new Electric Super Hubs and Electric Forecourts across the country. These hubs will house more than 3,000 new High Power charge points, capable of delivering 100 miles of charge in just 5 minutes.

At the heart of Gridserve’s initiative is its visionary ‘Sun-to-Wheel’ platform, which aims to develop and operate world-class electric vehicle charging networks powered by a combination of solar energy and batteries. This approach aligns with the company’s commitment to achieving net zero transport and limiting global temperature rises to 1.5°C.

Gridserve’s existing Electric Forecourts have been popular among EV drivers, and by the end of 2023, new forecourts will be opened in Braintree, Norwich, and Gatwick, with more planned. These sites not only offer fast chargers but also provide a comfortable environment for drivers to wait, get refreshments, and even hold meetings.

What makes this financing unique is that it is the first officially designated green loan for EV charging infrastructure in the UK. Gridserve’s Green Finance Framework has been certified ‘Dark Green’ by S&P Global’s Shades of Green, confirming its sustainability and positive environmental impact.

Toddington Harper, Founder and CEO of Gridserve, expressed pride in securing such substantial funding for the company’s electric vehicle charging network. He emphasized the overwhelming market demand for electric vehicles in the UK and how this financing will boost customer confidence and contribute to combating climate change.

The group of banks backing the debt raise includes major players such as CIBC, KfW Ipex, Lloyds Bank, MUFG, Natixis, NatWest, Santander, and the UK Infrastructure Bank. Santander also acts as the Green Structuring Bank, providing expertise in aligning the financing with green principles.

Various advisors and due diligence providers, including Clifford Chance, Arup, PwC, Aon, and Mazars, played important roles in the financing process. Latham & Watkins advised the lenders, while Lloyds and Natixis hold significant roles in the financing structure.

Gridserve’s technology-agnostic approach and proprietary data platform enable the company to optimize operations and meet the evolving needs of electric vehicle owners, ensuring seamless and efficient charging experiences.

Overall, Gridserve’s £526 million investment is a significant step in the UK’s transition to electric mobility and achieving net zero transport. The company’s commitment to sustainable energy solutions, supported by innovative technology and strategic partnerships, positions them as a key player in the fight against climate change. This investment will also open up 500 new EV showrooms for Gridserve.
Gridserve, a leading player in sustainable energy solutions, has recently announced its ambitious plans to construct 500 additional Electric Forecourts and Super Hubs across the United Kingdom. This groundbreaking initiative aims to revolutionize the electric vehicle (EV) infrastructure landscape, ensuring a more convenient and widespread adoption of electric mobility.

The Electric Forecourts, which are set to be deployed nationwide in the coming years, will consist of cutting-edge technology and state-of-the-art facilities. Each forecourt will have up to 24 ultra-fast charging points, capable of delivering a staggering 350 kW of power, allowing EVs to charge in as little as 20 minutes. Thus, easing any range anxiety concerns and offering drivers an experience similar to refueling at traditional petrol stations.

Furthermore, these forecourts will boast a range of amenities to enhance the customer experience. Gridserve plans to incorporate retail outlets, including grocery stores and coffee shops, and also provide electric vehicle education centers to educate and engage the public about the benefits of EVs. The Electric Forecourts are envisioned as not only charging locations but also as complete customer destinations, creating a seamless and enjoyable experience for EV owners.

In addition to the Electric Forecourts, Gridserve aims to develop a network of Super Hubs along major transportation routes. These Super Hubs will be larger in scale and will incorporate advanced features such as battery storage, solar canopies, and wind turbines. These sustainable energy sources will enable the Super Hubs to generate and store renewable energy, providing a more environmentally friendly and efficient charging solution.

The integration of battery storage within the Super Hubs is particularly significant as it enables the balancing of power demands and reduces the burden on the national electricity grid. This innovative approach ensures a smoother charging experience and reduces the potential strain on the network during peak demand periods.

Gridserve’s bold plans align with the government’s goal of phasing out the sale of petrol and diesel vehicles by 2030. With such an extensive network of Electric Forecourts and Super Hubs, the UK could witness a significant surge in EV adoption, thereby accelerating the transition towards a greener and more sustainable transport system.

The project’s magnitude can be seen as a vital step in overcoming one of the key barriers to widespread EV adoption: charging infrastructure. By significantly increasing the number of accessible and high-speed charging stations, Gridserve is addressing the common concern of range anxiety, making EV ownership a more viable and attractive option for consumers.

Gridserve’s CEO, Toddington Harper, emphasized the urgency of developing charging infrastructure to facilitate EV adoption, stating, “Electric vehicles are fundamental to achieving net-zero carbon emissions, and Gridserve is dedicated to supporting the transition to electric transport in the UK. Our ambitious plans for Electric Forecourts and Super Hubs will ensure that charging is no longer a bottleneck to EV ownership, revolutionizing the EV charging experience for drivers across the country.”

The announcement of Gridserve’s plans has been met with enthusiasm and praise from both industry experts and environmental activists. The project’s scope and innovative design have been commended as a significant step towards a sustainable future, where electric mobility is the norm rather than the exception.

As the push for cleaner energy sources gains momentum, Gridserve’s commitment to expanding and enhancing the UK’s EV charging infrastructure is a promising development. With 500 Electric Forecourts and Super Hubs on the horizon, the way we charge and power our vehicles is set to undergo a profound transformation, ushering in a new era of sustainable transportation.

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