Triodos Bank supported Zouk Capital in its bid as manager of the fund.
The UK Government’s Charging Infrastructure Investment Fund (CIIF) is a £400m investment fund, with £200m to be raised from the private sector which will match £200m from the UK Government. The fund was announced in the Autumn Budget 2017 amongst a package of measures aimed at helping to increase the uptake of EVs in the UK.
Increased adoption of EVs will play a pivotal role in both the decarbonisation of the UK’s transport sector and much needed improvement in air quality as well as ensuring the UK continues as a global leader in the EV revolution.
Stirling Habbitts, senior relationship manager at Triodos Bank UK, said: “The team at Zouk Capital are well placed to deliver this important national initiative, and we are pleased to have supported them in their bid. At Triodos Bank we can provide a variety of types of finance including project finance loans, mezzanine loans and equity – as well as innovative new forms of finance such as crowdfunding. Given our focus on sustainable and responsible finance, it is fundamental to Triodos to support projects such as charging infrastructure for electric vehicles that help us transition to a low-carbon, clean future.”
London-based Zouk Capital, which has extensive experience in the EV charging infrastructure sector in the UK, was selected after a detailed bidding process run by the Infrastructure and Projects Authority. The fund will be invested in UK companies and platforms that comprise all elements of public EV charging infrastructure in order to make a commercial return for the UK Government and private sector investors. Subject to negotiations, it is expected that the fund will launch in Spring 2019.
Triodos Bank has over 35 years’ experience in financing the environment sector – visit our renewable energy page to find out more.