Smart Transport

Gridserve secures funding to expand UK EV charging network expansion

Gridserve charging network

Financing worth more than half a billion pounds will allow Gridserve to accelerate the upgrade and expansion of its UK electric vehicle (EV) charging network.

The charge point operator said that the refinancing will help it install more than 500 new charging hubs, delivering more than 3,000 new high-power charge points with speeds of up to 350kW.

The funding comprises of £326 million in committed loan facilities, with a further £200m uncommitted accordion facility for future assets – a total of £526m.

The £326m facility consists of a £300m term loan, a £10m working capital facility and a £16m VAT facility.

The financing will be undertaken under Gridserve’s Green Finance Framework.

Toddington Harper, founder and CEO of Gridserve, said: “To secure the largest debt raise globally for a privately-owned charge point operator is a remarkable endorsement of Gridserve’s electric vehicle charging network, our ‘sun-to-wheel’ strategy, our fantastic team and our future expansion plans.

“This financing – which was a hugely popular transaction amongst banks, attracting overwhelming market demand – will accelerate our delivery, providing customers further confidence to go electric, and fully charge Gridserve’s mission to move the needle on climate change, precisely at the time when urgent action is so critically required”.

The bank club behind the debt raise consists of: CIBC, KfW Ipex, Lloyds Bank, MUFG, Natixis, NatWest, Santander and UK Infrastructure Bank, with Santander also acting as the Green Structuring Bank and Gridserve being advised by Santander Corporate and Investment Banking.

Other advisers and due diligence providers included Clifford Chance (legal), Arup (commercial), PwC (tax and financial), Aon (insurance) and Mazars (model audit), while lenders were advised by Latham & Watkins (legal). Lloyds is the Facility Agent and Security Bank, with Natixis as Hedging Coordinator.

Comment as guest

Login  /  Register


No comments have been made yet.

Office Address
  • Smart Transport
    Media House
    Lynch Wood
    PE2 6EA
Join the community
  • Register to receive our digital content / products and service / information about our events.
  • Register now.
  • Conference


Welcome to Smart Transport

Welcome to the Smart Transport website, keeping you up-to-date with the latest news, insight and reports from policymakers and thought leaders.

The Smart Transport brand connects policy to solutions by bringing national government and local authority policymakers together with private sector organisations.

Contact Ernest Olaseinde for more information.

© Bauer Consumer Media Ltd
Media House, Lynch Wood, Peterborough, PE2 6EA - Registered number 01176085 IPSO regulated logo


Smart Transport members

Smart Transport board members


Please note:
By submitting any material to us you are confirming that the material is your own original work or that you have permission from the copyright owner to use the material and to authorise Bauer Consumer Media to use it as described in this paragraph. You also promise that you have permission from anyone featured or
referred to in the submitted material to it being used by Bauer Consumer Media. If Bauer Consumer Media receives a claim from a copyright owner or a person
featured in any material you have sent us, we will inform that person that you have granted us permission to use the relevant material and you will be responsible for paying any amounts due to the copyright owner or featured person and/or for reimbursing Bauer Consumer Media for any losses it has suffered as a result.