GRIDSERVE senior debt investment

Road transport is one of the largest contributors to UK greenhouse gas emissions, and the Bank can play a critical role in unlocking finance which will accelerate the decarbonisation of this sector.

With transport forming one of the UKIB’s five priority sectors, £45m was invested as part of a £300m committed Capex facility in GRIDSERVE’s electric vehicle (EV) charging rollout to build around 2000 new public charge points across the UK’s motorway network.  

This investment helped support the transition from internal combustion engine vehicles to EVs by improving connectivity for EV drivers across the UK. UKIB investment was needed to ensure these benefits are delivered without delay and to accelerate the future expansion of the UK’s public EV charging network. 

This project was the Bank’s second deal in the Green Transport sector and is expected to create 40 FTE jobs to deliver new charge points across 85% of the UK’s motorway service areas. By investing in this project, UKIB helped enable the emission savings from miles travelled by EV rather than ICE. Our assessment estimates that this project will likely enable more than 29,000 tonnes CO2e of GHG emissions savings.

Rob Minter, UKIB Banking & Investments Director, said:  

UKIB was pleased to support Gridserve in closing this landmark debt raise. Our investment widened the pool of finance available to support the growth of the EV sector and directly impacted the number of new chargers able to be deployed. Mobilising private capital to invest in such critical infrastructure is essential if the UK is to meet the level of investment needed over the next decade to accelerate the decarbonisation of the transport sector.