Harry Leahey

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Octopus Energy has announced plans to invest up to £110 million to expand the availability of EV charging points across the North of England and beyond by 2024. 

The investment will come from the renewable energy supplier’s investment arm, Octopus Energy Generation.

To scale up EV charging infrastructure, the company will work with Manchester-based public charging network Be.EV. 

Up to 1,000 extra charging points are said to be delivered from the move, increasing the firm’s charge point coverage by 600 percent. 

Asif Ghafoor, CEO and co-founder of Be.EV said: “The backing from Octopus Energy Generation is transformational for us. We have sites lined up and underway that will form dense clusters of chargers that give people the confidence to go electric. 

“We’re also building infrastructure that communities can be proud of, reinventing charging locations as green neighbourhood hubs and developing iconic designs. 

“Octopus’ support means we can take this unique approach to other parts of the country, addressing the imbalance in charging provision across north and south, urban and rural communities.”

Octopus Energy says public EV charge points are currently unevenly distributed in the UK, with many skewed towards London. 

The investment aims to address the imbalance and help accelerate the country’s transition to green, electric transport.

Matt Setchell, co-head of Octopus Energy Generation’s fund management team said: “Our first foray into funding EV charging infrastructure is a significant milestone. We’re accelerating the green energy transition, with more deals coming up to turbocharge it. 

“As a nation, we need to rapidly build more EV charge points to meet the growing number of drivers going electric. Easy and fair access to chargers will help phase out petrol-guzzling cars once and for all.”

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Harry Leahey 03/01/23