Clifford Chance advised Gridserve on First Certified Green Financing to Expand EV Network
Clifford Chance has advised Gridserve Sustainable Energy Limited on over half a billion pounds in certified green financing
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Clifford Chance advised Gridserve on First Certified Green Financing to Expand EV Network It will be capable of providing 100 miles of charge in barely five minutes Clifford Chance has advised Gridserve Sustainable Energy Limited on over half a billion pounds in certified green financing. This is to accelerate net zero transport with a huge expansion of its UK-wide electric vehicle...
Clifford Chance advised Gridserve on First Certified Green Financing to Expand EV Network
It will be capable of providing 100 miles of charge in barely five minutes
Clifford Chance has advised Gridserve Sustainable Energy Limited on over half a billion pounds in certified green financing. This is to accelerate net zero transport with a huge expansion of its UK-wide electric vehicle (EV) charging network.
It is the largest debt raise globally for a privately-owned charge point operator and the first officially designated green loan for EV charging infrastructure in the UK.
Commenting on the transaction, Praveen Jagadish, a Partner at Clifford Chance said, "Early movers in the EV charging space, including Gridserve, have had to be brave and make bets in a number of directions, both to get ahead of charging use trends and to access subsidy schemes or favorable regulations. It's great to see Gridserve now able to capitalize on that good early work by accelerating its scaling and investing in differentiating their consumer offering."
The refinancing of its existing and future EV charging super hubs and electric foreCourts and related infrastructure, including operational solar and battery projects, will allow Gridserve to accelerate the upgrade and expansion.
Projected to include the installation of more than 500 new electric super hubs nationwide, Gridserve will also deliver more than 3,000 new high power charge points with class-leading speeds of up to 350kW, capable of providing 100 miles of charge in just five minutes.
Gridserve is a technology-enabled sustainable energy business. Through its pioneering and multi award-winning Sun-to-Wheel platform, it develops, delivers, and operates world class customer-focused EV charging networks powered by solar energy and batteries.
The multidisciplinary Clifford Chance team was led by Infrastructure Partners Julia House and Praveen Jagadish. They were supported by director Leonhard Rudolph (construction), senior associate Kellie Grubb and associate Anna Trine Raudsepp (infrastructure finance).
The team also included Senior Associate Joseph Woodworth and Associate Oliver James (Energy and Infrastructure), Director Martin Kolmar and Associate Julian Wuttke (Private Equity) and Partner Anne Drakeford and Senior Associate Phil Sandu (Derivatives).