26 Jun 19

EDF and NEoT Capital partner to deliver EV infrastructure across the UK

EDF Energy has entered into a partnership with NEoT Capital to accelerate the delivery of key infrastructure for electric vehicles (EVs) in the UK.

The energy supplier, which recently launched its ‘Generation Electric’ campaign and a new EV offer, will become NEoTs preferred partner to provide EV charging infrastructure engineering, procurement, and construction and management services.

In turn, NEoT Capital – which specialises in distributed renewable energy and zero emission mobility – will act as EDF Energy’s preferred provider for financing EVs, particularly electric buses and batteries, and related infrastructure.

Demand for EVs is continuing to rise, with the average number of electric cars registered jumping by 900 per cent between 2014 and 2018[1], leading to an urgent need for widespread EV infrastructure across the UK. However, current investment by businesses in fleet EV operations is limited, with few businesses able to finance the large-scale holistic energy systems that will ensure the future cost efficiency of EVs, such as battery storage and vehicle-to-grid systems.

Both EDF Energy and NEoT Capital have invested heavily in new energy technologies in recent years. This partnership aims to combine their capabilities in order to support more meaningful investment into EVs, providing business customers with an end-to-end proposal for financing and infrastructure.

Béatrice Bigois, Managing Director, Customers at EDF Energy, said: “To accelerate the adoption of electric vehicles, we need to find innovative ways to finance the required investments. This strategic partnership with NEoT Capital will help us make electric mobility a reality for our customers.”

Philippe Ringenbach, CEO at NEoT Capital, said: “NEoT has the ambition to help its customers, notably cities and private operators, finance their transition to eMobility. We have the ability to invest up to €150M in Europe by the end of 2020 and we believe that the UK market is one of the most dynamic.

“This partnership with EDF Energy will allow us to propose global ‘eMobility-as-a-service’ offers from battery-as-a-service to global financing and service solutions including batteries, vehicles and optimised charging infrastructure. We want to support local authorities and operators in the public and private transportation sector to change to clean vehicles.”

[1] Society of Motor Manufacturers and Traders

Notes to Editors:

About NEoT Capital

NEoT Capital is an investment company dedicated to supporting its customers to make their transition to zero emission mobility and low-carbon energy.

Founded by key industrial partners, the company selects innovative solutions around energy storage and
propose global financing and services to remove the barriers associated with upfront investment and technology risks for its customers.

NEoT Capital brings together its expert team with agnostic technology specialists and international partners to provide the financial, operational, and strategic support required to bring visionary zero emission solutions to the world.

For more information

Antoinette Merchant
External Communications Manager – Customers
M: +44 (0)7384 529 185

About EDF

EDF is helping Britain achieve Net Zero by leading the transition to a cleaner, low emission electric future and tackling climate change. We're Britain’s biggest generator of zero-carbon electricity(1), meeting around one-fifth of the country’s demand and supplying millions of customers with electricity and gas.

With around 5 million accounts, EDF is one of the largest suppliers to British homes and businesses and a leading supplier of innovative energy solutions that are helping businesses become more energy independent. All of our home customers get energy tariffs backed by zero-carbon electricity as standard.

We generate low carbon electricity from eight nuclear power stations, more than thirty onshore wind farms and two offshore wind farms, and operate one of Britain’s biggest battery storage units, one gas and one coal power station, thousands of EV charge-points, and combined heat and power plants. Wind, nuclear and solar all produce electricity that is zero carbon at the point of generation and have similar emissions over the build, run and retire lifecycles.

EDF is leading the UK's nuclear renaissance with the construction of a new nuclear power station at Hinkley Point C, and is leading the development of plans for a replica at Sizewell C in Suffolk. Hinkley Point C and Sizewell C will provide low carbon electricity to meet 14% of UK demand and power around 12 million homes. 

EDF is one of the UK’s largest investors in renewables, with 1GW of renewable generation in operation and over 4GW in construction, planning and development across a range of technologies including onshore and offshore wind, solar and battery storage. We are constructing our largest offshore wind farm in Britain – the 450 MW Neart na Gaoithe project in Scotland which will be ready in 2023.

Our energy services business, Imtech, is one of the largest technical service providers in the UK and Ireland.

EDF is part of EDF Group, the world’s biggest electricity generator. In the UK we employ around 13,000 people.