EV infrastructure to get a boost following EDF and NEoT partnership
EDF Energy has entered into a partnership with NEoT Capital to accelerate the delivery of key infrastructure for electric vehicles in the UK.
Under the pairing, EDF Energy will become NEoT’s preferred partner to provide EV charging infrastructure engineering, procurement, and construction and management services.
In turn, NEoT Capital – which specialises in distributed renewable energy and zero emission mobility – will act as EDF Energy’s preferred provider for financing EVs, particularly electric buses and batteries, and related infrastructure.
The companies said that current investment by businesses in fleet EV operations is limited, with few businesses able to finance the large-scale holistic energy systems that will ensure the future cost efficiency of EVs, such as battery storage and vehicle-to-grid systems.
This partnership aims to combine the companies’ capabilities in order to support more meaningful investment into EVs, providing business customers with an end-to-end proposal for financing and infrastructure.
Beatrice Bigois, managing director, customers at EDF Energy, said: “To accelerate the adoption of electric vehicles, we need to find innovative ways to finance the required investments. This strategic partnership with NEoT Capital will help us make electric mobility a reality for our customers.”
Philippe Ringenbach, CEO at NEoT Capital, said: “NEoT has the ambition to help its customers, notably cities and private operators, finance their transition to eMobility. We have the ability to invest up to €150m (£135m) in Europe by the end of 2020 and we believe that the UK market is one of the most dynamic.
“This partnership with EDF Energy will allow us to propose global ‘eMobility-as-a-service’ offers from battery-as-a-service to global financing and service solutions including batteries, vehicles and optimised charging infrastructure. We want to support local authorities and operators in the public and private transportation sector to change to clean vehicles.”