Aviva Investors’ real assets arm has completed a deal to invest up to £110m in electric vehicle infrastructure provider Connected Kerb.
Alongside its equity investment, Aviva Investors has also appointed Connected Kerb to provide and install EV charging infrastructure across its commercial real estate portfolio, as it continues a programme of decarbonisation and commitment to reaching net zero across its entire real assets business by 2040.
Aviva Investors said the deal will help to transition its office, retail, logistics and industrial sites towards carbon neutrality.
The investment, made as part of the investor’s climate transition strategy, will support Connected Kerb’s plans to deliver 190,000 on-street EV chargers by 2030, and corresponds to almost one-third of all funding committed by public policy initiatives to date.
Daniel McHugh, CIO, real assets at Aviva Investors, said: “This is a flagship deal for Aviva Investors, which spans both our infrastructure and real estate investment teams. With the UK estimated to need 400,000 public EV charging points by 2030 and approximately 2.5 million by 2050 to support the full EV transition, institutional investor capital can play a vital role in helping to deliver the level of investment required.”
Sean McLachlan, senior director, infrastructure, at Aviva Investors, said: “The funding we are providing will help to speed up the provision of EV charging to homes and businesses alike, while increasing accessibility.”
Peter Howe, founder and chairman of Connected Kerb, said: “This investment combines the proven long-term reliability of Connected Kerb’s infrastructure with the financial resources and expertise of Aviva Investors to deploy charging, at scale, to all corners of the UK, giving individuals and businesses the confidence to make the switch to electric, and dramatically reduce carbon emissions and air pollution – it’s truly game-changing.”
Formed in 2017, Connected Kerb builds, owns, and operates electric vehicle charging infrastructure for residential, workplace, and long-stay parking across the UK, with a particular focus on long-term local authority procured contracts.
To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews
