Aviva Investors is to invest up to £110m (€123m) to help Connected Kerb install 190,000 electric vehicle (EV) chargers across UK streets by 2030.
The investment is being made on behalf of Aviva Investors’s climate-transition real assets strategy, launched last year, and the fund manager has also appointed Connected Kerb to roll out EV charging infrastructure across its real estate portfolio, as part of its decarbonisation programme.
Daniel McHugh, real assets CIO 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 2.5m 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.
“It is an excellent example of the multi-asset approach we are able to adopt in our climate-transition strategy to help deliver on the UK’s long-term net-zero ambitions, as well as the investment objectives of our clients.”
Connected Kerb was formed in 2017 and builds, owns and operates EV charging infrastructure for residential, workplace and long-stay parking across the UK.
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.”