GRIDSERVE secures $682 million funding for expansion of EVs in the UK

Gridserve sustainable energy (GRIDSERVE), a UK-based electric vehicles (EVs) charge point operator, has secured a funding of $682 million. The financing will be carried out in accordance with GRIDSERVE’s Green Finance Framework, which has been classified as the first EV charging infrastructure loan in the UK and has been certified Dark Green by S&P Global’s Shades of Green.

GRIDSERVE intends to build more than 500 electric super hubs across the country with the raised funding. These funds will be utilised by the company to plan upgrades for its future EV charging super hubs and electric forecourts as well.

Recently, in July 2023, Tyler Hill Renewables sold its 390 MW solar plus battery energy storage system portfolio to Ampyr Solar Europe, a Singapore-based independent power producer. The portfolio includes five solar plus storage projects with secure grid connections. They will be located in Somerset, Worcestershire, and County Durham.

In May 2023, the UK government had announced £77 million in funding for a zero-emission vehicle project that will include emergency services vehicles. The project seeks to develop a hydrogen fuel-cell range extender for specialist EVs such as fire engines and ambulances.