LONDON: TotalEnergies (LSE:TTE) and SSE have signed a binding agreement to create a joint venture to establish a new major player in EV charging infrastructure in the UK and Ireland, under the brand “Source”.
The new business will deploy in both countries up to 3000 high power charge points, meeting demand from EV and fleet owners to provide fast and reliable charging.
Within the next 5 years, Source will deploy up to 3000 high power charge points (of 150 kW and more) grouped in 300 “EV hubs”, targeting 20% market share. Charging hubs will be in prime locations in and around urban areas and powered by renewable energy provided by SSE and TotalEnergies. Several hubs are already under construction with plans for dozens more, currently in development studies.
In the UK, Source will provide the reliable ultra-fast charging infrastructure needed across the country to meet the demand from EV drivers and fleet operators. This demand was recently triggered by the enforcement into law of the UK Government’s zero vehicle emissions mandate for all new cars and vans, raising power supply infrastructure for EV and fleet owners as one of the biggest challenges facing the decarbonisation of transport.
Similarly in Ireland, Source’s plans will help accelerate action to meet the government target of placing almost 1 million electric vehicles on roads by 2030, while building consumer confidence in EV charging.
“TotalEnergies is proud to contribute to the development of electric mobility to decarbonize transportation in the UK and Ireland. 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,” says Mathieu Soulas, Senior Vice President New Mobilities at TotalEnergies.
“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,” says Neil Kirkby, Managing Director of Enterprise at SSE.
With over 64,000 charge points in operation around the world today, and proven experience in the retail sector, TotalEnergies is already a recognized player in electric mobility. In the UK, the Company operates the Source London network comprising 2,600 charge points in the capital. This joint venture is aligned with TotalEnergies’ ambition to deploy and operate more than 1,000 high-power charging sites for electric vehicles in Europe by 2028.
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