SSE and TotalEnergies have created a joint venture to install 3,000 electric vehicle charging points in the UK and the Republic of Ireland.
The new ultra-fast charging points are intended to provide enough power in only six minutes for a vehicle to travel more than sixty miles.
The new business, named Source, will deploy up to 3,000 ultra-rapid charge points – offering 150kW and higher – across the two countries, grouped in 300 EV hubs and targeting a 20% market share.
TotalEnergies’ Mathieu Soulas, senior vice president new mobilities, said: “This is a great opportunity to extend our network in Europe and stake out a key position as a reference high-power charging player.
"We want to offer our customers – passenger cars and fleet alike – a nationwide, ultra-fast and reliable charging service that allows them to travel efficiently with complete peace of mind.
"This development also contributes to our integrated power strategy in the UK, combining renewable and flexible power generation capacity, trading and marketing of low-carbon electricity available 24 hours a day.”
Neil Kirkby, managing director of enterprise at SSE, added: “SSE is already playing a leading role in decarbonising the UK and Ireland’s power system including building the world’s largest offshore wind farm and transforming electricity networks.
"Now this agreement will help accelerate progress towards a decarbonised transport system too, ensuring the vehicles that keep the economy moving can do so in a more sustainable and efficient way.”
FTSE 100
The UK's flagship share index, the FTSE 100, was down 54-points at 8,137 shortly after opening this morning.
Brent crude oil futures were down -0.46%, trading at $84.46 a barrel.
Companies reporting today
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BHP | Q4 Operations Review |
Experian | Q1 Trading Statement |
IntegraFin Holdings | Q3 Trading Statement |
Intermediate Capital Group | Q1 Trading Statement |
Ocado | Half Year Results |