Gridserve has secured more than half a billion pounds in certified green financing to upgrade and expand its UK-wide EV charging network
The refinancing comprises £326m in committed loan facilities, with a further £200m uncommitted accordion facility for future assets.
The funding 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.
Toddington Harper, Founder and Chief Executive of Gridserve, said: “To secure the largest debt raise globally for a privately-owned charge point operator is a remarkable endorsement of Grideserve’s electric vehicle charging network, our Sun-to-Wheel strategy, our fantastic team and our future expansion plans. This financing – which was a hugely popular transaction amongst banks, attracting overwhelming market demand – will accelerate our delivery, providing customers further confidence to go electric, and fully charge Gridserve’s mission to move the needle on climate change, precisely at the time when urgent action is so critically required.”
Gridserve is seeking planning permission from South Lanarkshire Council to build an all-electric forecourt in Rutherglen.
