26 October 2021
ESB Energy is set to significantly expand its network of convenient, ultra-fast EV charging infrastructure across the UK through a new agreement with Zood Infrastructure. This partnership will significantly contribute to the UK’s commitment to decarbonise the transport sector by supporting mass market uptake of EVs.
The development of the network will be carried out by The EV Network (EVN), a leading infrastructure development company based in the UK. The EV Network offers a turn-key
solution to develop, fund and build publicly accessible EV charging hubs in the UK and is already working with a number of other leading Charge Point Operators (CPO).
ESB Energy already has an expanding network of fast and rapid charge points across the UK with a strong presence in London, Birmingham and Coventry, offering EV drivers a reliable and hassle-free service. All ESB Energy charge points are powered by 100% renewable energy. Operating in the UK for almost 30 years, ESB Energy is the foremost energy company in Ireland with over 90 years’ experience in the electricity sector.
The new agreement with Zood Infrastructure, a wholly-owned subsidiary of SDCL Energy Efficiency Income Trust plc (SEEIT plc), is expected to deliver a significant number of rapid and ultra-fast EV charging hubs in high-traffic areas at strategically appropriate locations. These will be developed, funded and built by The EV Network, which has an up to £200 million investment commitment from SEEIT plc.
John Byrne, Head of EV Solutions at ESB Energy, said: “Every day, we are working to provide the market with low carbon energy by building smarter electricity networks and collaborating with others to develop innovative solutions to today’s energy challenges. We built the first-ever interoperable cross-border system of over 1,350 public charging points across the island of Ireland. We are now using this experience to partner with The EV Network to add to our charge point network and services for EV drivers across the UK.”
Reza Shaybani, Founding EVN Chief Executive, said: “We are delighted to be working with ESB Energy on this exciting project. Our ambitions are aligned, and our unique business model enables all our CPO partners to build a strong network without having to worry about the development or investment in the infrastructure.”
Jonathan Maxwell, CEO of Sustainable Development Capital LLP, the investment manager for SEEIT plc, said: “This agreement, with a leading EV charging provider, ESB Energy, will develop more ultra-fast charging locations and improve the UK’s capacity for widescale EV use. With the current challenges facing energy and fuel security, the need to invest in our EV capability and develop the infrastructure required for a systemic shift towards electric transportation has never been clearer. This agreement, and our ongoing partnership with The EV Network, is a commitment to address this need and enabling the UK’s transport to become greener, cheaper and more reliable.”
For Further Information
ESB Press Officer
The EV Network
Sustainable Development Capital LLP
About ESB Energy
ESB Energy offers electric vehicle drivers in Britain access to a growing network of 100% renewable energy EV public charging points across Birmingham, London and Coventry. Since 2018, ESB Energy has partnered with Transport for London to install over 120 rapid chargers (50kW) at sites across the city. ESB Energy recently completed the installation of a network of 39 city wide rapid chargers (50kW) in Coventry, as part of Coventry City Council’s commitment to cut carbon emissions. Our latest project includes the roll out of 200 fast and rapid chargers (394 charge points) in Birmingham in partnership with Birmingham City Council, supported by Office of Zero Emission Vehicles (OZEV) funding.
At ESB Energy, our goal is simple: to continue to actively change the energy landscape across Britain to create a brighter future. By investing in renewable energy sources and developing sustainable technologies, we’re paving the way to a cleaner, brighter future for Britain and our planet.For almost 30 years, ESB has operated as a leading independent generator in the UK, with over £4 billion live and planned investment in renewable generation. We have invested significantly in the UK wind energy landscape, with wind farms in West Durham, Fullabrook, and Mynydd y Betws. Today, we continue to develop a pipeline of low carbon and renewable technologies.
ESB Energy is part of ESB, Ireland’s largest energy company with 90 years' experience in the electricity sector. ESB developed one of the first fully interoperable charging networks in Europe, comprising over 1,400 public charge points across the island of Ireland.
For more visit www.esbenergy.co.uk/EV.
About The EV Network
Founded in 2017, EVN is a leading independent EV charging infrastructure development company. EVN’s mission is to address the challenges faced by both landlords and charge point operators (“CPOs”) in rolling out a network of rapid and ultra-fast EV chargers and charging infrastructure in the UK. Over the past three years EVN has carefully selected and secured the very best sites in the UK, seizing first-mover advantage in what has become an increasingly competitive UK market. Through strong relationships with high quality landlords and charge point operators, EVN has become a distinguished player in the EV charging market able to provide its partners with fully funded bespoke technology and service solutions.
Further information can be found at www.theevnetwork.com.
SDCL Energy Efficiency Income Trust plc is the first UK listed company of its kind to invest exclusively in the energy efficiency sector. Its projects are primarily located in the UK, Europe and North America and include, inter alia, a portfolio of cogeneration assets in Spain, a portfolio of commercial and industrial solar and storage projects in the United States, a regulated gas distribution network in Sweden and a district energy system providing essential and efficient utility services on one of the largest business parks in the United States.
The Company aims to deliver shareholders value through its investment in a diversified portfolio of energy efficiency projects which are driven by the opportunity to deliver lower cost, cleaner and more reliable energy solutions to end users of energy.
The Company is targeting an attractive total return for shareholders of 7-8 per cent. per annum (net of fees and expenses and by reference to the initial issue price of £1.00 per Ordinary Share), with a stable dividend income, capital preservation and the opportunity for capital growth. The Company is targeting a dividend of 5.62p per share in respect of the financial year to 31 March 2022. SEEIT's last published NAV was 102.5p per share as at 31 March 2021.Past performance cannot be relied on as a guide to future performance.
Further information can be found on the Company's website at www.seeitplc.com.
SEEIT's investment manager is Sustainable Development Capital LLP (“SDCL”), an investment firm established in 2007, with a proven track record of investment in energy
efficiency and decentralised generation projects in the UK, Continental Europe, North America and Asia.
SDCL is headquartered in London and also operates worldwide from offices in New York, Dublin, Madrid, Hong Kong and Singapore. SDCL is authorised and regulated in the UK by
the Financial Conduct Authority.
Further information can be found at www.sdclgroup.com