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SDCL Energy Efficiency forms electric vehicle charging pact with BP pulse
StockMarketWire.com
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Energy efficiency project investor SDCL Energy Efficiency Income Trust said it had signed an electrical vehicle charging pact with Chargemaster, otherwise known as BP pulse.
The company said the pact represented a significant step forward in the roll out of national electric vehicle charging infrastructure in the UK.
SDCL Energy Efficiency had in August made an initial £50 million investment commitment to the UK's Electric Vehicle Network (EVN).
Under the Chargemaster pact, development and construction of the charging stations was expected to start immediately, with the first sites targeted to be operational by mid to end of 2021.
At that point, they were expected to start generating availability-based revenues for SDCL Energy Efficiency, the company said.
This national electric-vehicle station roll out for BP pulse would include hubs of between six and 12 chargers, as well as the next generation of 'e-forecourts' with up to 24 ultra-fast charge points with on-site solar PV and battery storage systems.
EVN planned to develop a further around 400 charging sites, and SDCL Energy Efficiency had the right of first refusal to provide an additional around £150 million in the next 24-36 months.
At 9:06am: (LON:SEIT) share price was 0p at 108.5p
Story provided by StockMarketWire.com
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