GRIDSERVE Sustainable Energy Ltd – national electric vehicle (EV) charging network powered by renewable energy
GRIDSERVE delivers sustainable energy and moves the needle on climate change with a nationwide electric vehicle (EV) charging infrastructure powered by renewable energy.
GRIDSERVE Sustainable Energy Ltd is at the forefront of delivering a UK-wide ‘sun-to-wheel’ ecosystem of zero carbon energy generation and ultra-fast electric vehicle (EV) charging networks.
GRIDSERVE has 2 primary EV charging solutions (Electric Forecourts and Electric Hubs, called the Electric Highway) which will be rolled out at scale over the next 3 years.
Currently GRIDSERVE’s Electric Highway covers 85% of the UK’s motorway service areas and some of the UK’s busiest retail destinations, successfully charging over 100,000 electric vehicles every month. GRIDSERVE plan to deliver over 5,000 additional high power chargers at their charging locations across the UK, supported by up to 15 hybrid solar farms.
This vertically integrated ecosystem of distribution and generation ensures price competitiveness through a captive commodity hedge.
GRIDSERVE has proven the technology, feasibility, and economics of delivering this ecosystem in the UK, and is now focused on maximising its strong market position.
Investment type:
Capital investment - energy and infrastructure
Sector:
(Sustainable infrastructure, Zero emission vehicles, Energy storage, EV charging, Generation, Energy Infrastructure)
Project promoter:
GRIDSERVE Sustainable Energy Ltd
Scale:
Up to £1 billion (equity and debt)
Time to Final Investment Decision (FID):
0-6 months
Sector and market
The UK government has announced a ban on the sale of new petrol, diesel and hybrid cars from 2035.
To support the transition to electric-only passenger vehicles, the country needs a network of charging stations, as domestic charging is not universally accessible (40% of households have no access to off-street parking).
Location
Providing EV charging points across the UK will mean motorists can power their EVs wherever they go, with a fast, consistent, and fairly priced service.
Connectivity
The current charging points are located along the UK’s strategic road network.
This includes motorways and areas with a high volume of traffic - such as gateway roads for cities, or next to towns and densely populated areas.
Local talent and skills
There will be well-known national convenience retail units alongside the EV charging facilities, and the staff for these will be recruited from the local community.
Further details
GRIDSERVE’s sites are being built to high environmental standards, using low carbon construction materials to reduce emissions.
GRIDSERVE will also embark on a comprehensive biodiversity programme where possible at its sites and support remote nature-enhancing projects if it’s not possible to incorporate specific or meaningful programmes on GRIDSERVE sites.
This may include restoring woodland areas such as Scotland to maintain our overall biodiversity programme.
Environmental, social and governance (ESG) highlights
The decarbonisation of power and transport are two key elements of the UK government’s Ten Point Plan, which address the largest contributory sectors of carbon emissions in the UK.
This GRIDSERVE project will accelerate the transition to net zero transport by providing a low cost, open-access, fast, reliable and easy to use service.
Promoters and partnerships
To power its EV charging facilities, GRIDSERVE has built and operates some of the most technically sophisticated solar and energy storage projects in the UK.
It recently acquired the Electric Highway, the UK’s first EV charging network. It also has access to funding from Hitachi Capital (also a shareholder) and TPG’s RISE fund as well as a recent £200m investment from Infracapital (the infrastructure equity investment arm of M&G Plc).
Local and national government support
GRIDSERVE works closely with local authorities in the planning and development of its sites, as well as with national authorities such as the Highway Agency.
It has strong relationships with National Grid, Ofgem, and the Office for Zero Emission Vehicles (part of the Department for Transport and Department for Business, Energy and Industrial Strategy).
