Gridserve has announced the largest debt raise to-date globally for a privately-owned charge point operator, demonstrating the market’s confidence in both the transition to electric mobility and its mission to help deliver net zero transport at speed and scale.
Comprising £326 million in committed loan facilities, with a further £200 million uncommitted accordion facility for future assets – a total of £526 million – the green infrastructure financing facility covers the company’s full Sun-to-Wheel ecosystem.
The refinancing of its existing and future electric vehicle charging Super Hubs and Electric Forecourts®, as well as related infrastructure including operational solar and battery projects, will allow GRIDSERVE to accelerate the upgrade and expansion of its UK network.
Projected to include the installation of more than 500 new Electric Super Hubs nationwide, the growth will deliver more than 3,000 new High Power chargepoints with class-leading speeds of up to 350kW, capable of providing 100 miles of charge in only 5 minutes.
The £326 million facility consists of a £300 million term loan, a £10 million working capital facility and a £16 million VAT facility. The financing will be undertaken under GRIDSERVE’s Green Finance Framework which has been certified “Dark Green” by S&P Global’s Shades of Green (formerly CICERO), making it the first officially designated green loan for EV charging infrastructure in the UK.