TotalEnergies, SSE join forces to create Source, new major player in EV charging in UK & Ireland

TotalEnergies, SSE join forces to create Source, new major player in EV charging in UK & Ireland TotalEnergies 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"
Energy
July 16, 2024 14:04
TotalEnergies, SSE join forces to create Source, new major player in EV charging in UK & Ireland

TotalEnergies 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”, Report informs referring to the TotalEnergies website.

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.

This agreement is subject to the applicable regulatory approvals being obtained from the relevant authorities.

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