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IPE Real Assets: SDCL Energy invests in electric vehicle charging infrastructure
General/ 06 August 2020SDCL Energy Efficiency Income Trust is investing up to £50m (€42m) to buy an initial 112 electric vehicle charging stations across the UK.
The UK-listed investment firm said the charging sites will be developed and funded by Electric Vehicle Network (EVN) to the point at which they are contracted and construction-ready, at which stage they will be acquired by SDCL Energy.
The company said EVN also plans to develop a further 380 charging sites, requiring an additional £150m in the next 36 months, for which SDCL Energy has a right of first negotiation.
Jonathan Maxwell, CEO of SDCL Energy, said: “This fits our model of investing in availability-based services with strong counterparties. “Project revenues will be generated from energy services agreements with predictable costs, presenting the opportunity for a stable and predictable investment for SDCL Energy and one we are delighted to add to our portfolio.
”This will also provide further diversification in terms of technology, counterparty and application.”Link to Article