Sustainable Development Capital, as manager of the London EDGE Fund, has entered into an agreement with EVN Group for the roll-out of rapid electric vehicle (EV) charging sites in London.
London EDGE is backed by a £50 million commitment from the Greater London Authority and is focused on investing in projects that reduce energy use, greenhouse gas emissions and other pollutants across London.
The EVN facility is expected to be used to fund a portfolio of contracted EV charging sites, underpinned by long-term Framework Service Agreements with Charge Point Operators, supporting the UK’s transition to electric mobility and helping to close the well-documented charging gap that continues to constrain EV adoption.
Under the terms of the facility, EVN will deploy ultra-rapid charging infrastructure across a portfolio of strategically selected sites within the M25 and in the wider London area.
The first site is shovel-ready with grid connection secured and will host nine 300kW chargers. E.ON Drive Infrastructure UK Limited, a subsidiary of E.ON Group, has been granted the offtake agreement for this site.
Jonathan Maxwell, Founder and CEO of SDCL, said:
“This investment illustrates London EDGE’s approach of investing the GLA’s cornerstone backing directly into the infrastructure London needs to decarbonise. Charging capacity for electric vehicles remains scarce relative to demand, and this facility with EVN will help close that gap while delivering long-term, contracted income to our investors.”
Reza Shaybani, Co-Founder and CEO of The EV Network, said:
“Accelerating London’s transition to electric mobility requires more than just ambition; it requires the right sites, secured power and long-term capital working together. This agreement with London EDGE provides a strong platform to turn a portfolio of strategically located sites into high-quality, operational charging infrastructure. Further reflecting EVN’s commitment to overcoming the practical barriers of deployment and building the EV infrastructure needed to support the capital’s growing number of electric vehicles.”
Image courtesy of Green Car Guide
