Gridserve has secured an initial £200m investment from Infracapital, the infrastructure equity investment arm of M&G.

The investment will help accelerate the company’s plans to further its ‘Sun-to-Wheel’ model, which encompasses generating energy through hybrid solar farms, then distributing energy through a national charging network of ‘Electric Forecourts’ and ‘Electric Hubs’.

Gridserve already operates Electric Highway, a national public charging network covering 85 per cent of the UK’s motorway service areas and is charging over 100,000 electric vehicles every month. The investment will enable it to deliver over 5,000 high power chargers by 2025, and expand development of its hybrid solar farms to generate and deliver net-zero energy for this network.

Infracapital’s initial investment complements the continuing partnership with financial services company, Mitsubishi HC Capital UK and TPG Rise. The investment was supported by legal firm White & Case and PWC. Nomura Greentech acted as financial advisor to Gridserve on the capital raise. Infracapital were advised by RBC Capital Markets, and Clifford Chance.

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