Global real assets fund manager Patrizia is investing in electric vehicle (EV) charging infrastructure in Germany via its European infrastructure fund series.

Patrizia said it is investing €70m in charging solutions firm Numbat alongside a debt facility of the same amount provided by a syndicate of German banks led by Deutsche Asset Leasing to enable the rollout of charging stations across the country.

The capital will finance the rollout of 400 ultrafast EV charging stations at 200 locations of organic supermarket chain Tegut.

As part of the deal, Patrizia said it has provided a convertible loan note to Numbat and has also secured the right to finance further Numbat EV charging rollout programmes across Europe.

Matteo Andreoletti, head of infrastructure for Europe and North America, said: “Supporting the transition to green energy is one of our key long-term investment trends as we address the challenges of climate change.

“E-mobility has a significant role to play in putting us on the path to net zero and creating smarter, cleaner towns and cities. We are excited to fully leverage our expertise in both renewables and smart city solutions to drive the future value and growth of our partnerships with Numbat and Tegut.”

Martin Schall, CEO of Numbat, said: “With the installation of up to 400 chargers at the supermarkets, we will significantly contribute to the strong growing demand for fast chargers in Germany. Tegut can offer a convenient opportunity for EV drivers to charge their vehicles while they do their grocery shopping.

“At the same time, with our integrated battery storage, renewable electricity can be charged to the cars, supporting the joint vision of all involved parties to promote clean mobility solutions.”

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