A joint venture between real estate investment fund manager Greenman and its funds is planning to invest €30m in the rollout of electric vehicle (EV) hyper-charging stations in Germany.

The venture, known as Greenman Energy, intends to fund the investment through a combination of debt and equity.

Greenman Energy said the Greenman Open fund will provide 75% of the equity and the Greenman Group will provide the remaining 25% of the equity.

Greenman Energy has signed an agreement with GP Joule Connect to install the first charging units in the car park of the Mahlsdorf market retail centre owned by fund Greenman Open.

The plan is to roll out hyper-charging stations across all Greenman Open’s 75 supermarkets, Greenman Energy said, adding that it will also seek to place charging stations at supermarkets not owned by Greenman Open.

Maximilian Bley, founder, and CEO of Greenman Energy said: “This is a big step towards the achievement of our hyper-charging station rollout plan. We believe our charging stations will provide a complementary service to customers visiting our tenants’ supermarkets and we are very happy to build a partnership with GP Joule Connect.

“Our charging stations will be an important part of our group’s plan to maximise the resources of our properties, contributing to local energy independence, increasing the proportion of our funds’ revenue from non-rental activities, and helping to meet our funds’ SFDR and EU taxonomy commitments.”

Manuel Reich, managing director of GP Joule Connect, said: “We need to tackle now the transition to sustainable mobility that is independent of fossil fuels.

“The charging infrastructure is therefore a central building block. We look forward to working with Greenman Energy to make the mobility and energy transition a reality - and to offer customers a comfortable charging experience.”

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