Renewables will be the world’s principal source of power by 2040 and are penetrating world grids faster than any other energy source in history, O&G major BP has said.
Local energy marketplaces and their interaction with existing licensing regimes have proven a particular area of interest within Ofgem’s regulatory sandbox initiative, with BP and British Gas named amongst its new participants.
Spanish firm Wallbox has become the latest electric vehicle charging equipment manufacturer to enter the UK market, while BP continues to test its mobile charging unit and Tonik Energy becomes the latest supplier to offer an EV tariff.
Consolidation in the electric vehicle charging infrastructure market is inevitable and could result in just “four or five big players” dominating networks, a panel of investors has concluded.
The £130 million purchase of Chargemaster by BP will see the company “enhance and accelerate” its deployment programme and triple its manufacturing capabilities over the next 12-18 months, according to the company’s director of strategy.
BP is to snap up Chargemaster, the UK’s largest electric vehicle charging company, in a deal that it said would advance the transition to electric transport.