Watson Farley & Williams (WFW) has advised SDCL Energy Efficiency Income Trust (SEEIT) on its purchase from Electric Vehicle Network Limited (EVN) of an initial 112 fast and ultra-fast EV charging stations throughout the UK for a total valuation of up to £50 million.
The sites are expected to take six to twelve weeks to develop, mostly situated in forecourts and car parks with large site owners. In addition to the original 112 locations, EVN plans to build another approximately 380 EV charging locations, which will cost an estimated £150 million over the next 36 months, for which SEEIT has the right of first negotiation.
The WFW London team advising SEEIT was headed by energy partner Emmanuel Ninos, aided by senior associate John Rosmini who participated in real estate matters, and associate Tim Williams who managed the transaction’s corporate aspects.
“This substantial investment in a large portfolio of rapid and ultra-fast EV charging stations demonstrates the demand for attractive investments in the UK EV sector. WFW has now acted on a number of innovative transactions in the EV sector across Europe, including France, Germany and the UK.”Emmanuel Ninos, energy partner.