TotalEnergies, UK power join hands to launch EV charging company
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French oil giant TotalEnergies and UK power company SSE announced plans to capture a 20% share of the electric vehicle (EV) fast-charging market in Britain and Ireland with their new joint venture, Source.
The partnership, split evenly between the two firms, aims to establish and manage up to 3,000 fast-charging points across both countries within the next five years.
These stations, capable of delivering 150 kilowatts (kW) using direct current, will be powered by renewable energy sourced from both parent companies.
Although TotalEnergies did not disclose the total investment figure, the estimated cost for deploying 3,000 fast-charging points of this type currently stands at approximately 300 million euros.
Also read: TotalEnergies and SLB partner to develop digital solutions for more sustainable energy
“We have acquired a certain expertise in charging point management, construction, implementation, and client services … and SSE knows the integrated electricity grid aspect of the business well, so the partnership is very complementary,” Mathieu Solas, director of new mobility at TotalEnergies, told journalists at a briefing.
TotalEnergies and SSE have an existing partnership in Scotland’s largest offshore wind farm, Seagreen.
Additionally, TotalEnergies operates a network of 2,500 charging points in and around London and across continental Europe, they manage approximately 65,000 stations. The majority of these stations are slow-charge points that utilize alternating current (AC).
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