Gridserve has announced more than £500m of certified green financing to accelerate the expansion of its UK-wide EV charging network.

This new financing should yield more than 3,000 new High Power charge points with speeds of up to 350kW over 500 sites.

Comprising £326min committed loan facilities, with a further £200m uncommitted accordion facility for future assets for a total of £526 million, the green infrastructure financing facility covers the company’s full Sun-to-Wheel ecosystem. The financing will be undertaken under the company’s Green Finance Framework which has been certified “Dark Green” by S&P Global’s Shades of Green, making it the first officially designated green loan for EV charging infrastructure in the UK.

The bank club behind the debt raise consists of: CIBC, KfW Ipex, Lloyds Bank, MUFG, Natixis, NatWest, Santander and UK Infrastructure Bank, with Santander also acting as the Green Structuring Bank and Gridserve being advised by Santander Corporate & Investment Banking.

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