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EDF Energy bids to shift gear in EV infrastructure with NEoT Capital deal

Image: EDF.

Image: EDF.

EDF Energy has signed a partnership with investment firm NEoT Capital to accelerate its deployment of EV charging infrastructure in the UK.

The deal will see EDF become NEoT’s preferred partner for EV charging infrastructure, providing engineering, procurement, construction and management services, while NEoT will take on the mantle of becoming EDF’s preferred provider of financing for EVs, batteries and related infrastructure.

The duo pointed towards a “limited” investment by businesses into electric fleets, with few businesses able to finance the kind of energy systems necessary to support EVs, including battery storage and vehicle-to-grid systems.

EDF recently launched a nationwide advertising zeroing in on its proposition in electric vehicles, and the two companies said they intend to trigger “more meaningful” investment into EVs by providing their business customers with an end-to-end solution.

Energy suppliers in the UK are racing into the EV space in their droves, with end-to-end packages incorporating financing, vehicle ownership, charging infrastructure and clean power supply proving popular.

The likes of ScottishPower, Drax and Centrica have launched special purpose, end-to-end EV product offerings in recent times, while Volkswagen launched its own clean energy supplier - Elli - in Germany earlier this year to secure its position in the EV power supply market.

Beatrice Bigois, managing director for 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.”

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