The NWF debt financing is part of Osprey’s latest £110m fundraise from a group of lenders including Novuna Business Finance (part of Mitsubishi HC Capital UK PLC), Société Générale and Aldermore.
The EV charging market is seen as a key sector for the National Wealth Fund. Its backing for Osprey’s rapid charging roll-out supports Government decarbonisation targets by helping to ensure there are enough chargers to inspire confidence and help drivers make the switch to EVs, ahead of the 2030 ban on sales of new vehicles powered solely by internal combustion engines.
Forecasts estimate at least 300,000 public EV chargers will be needed over the next five years to meet demand, up from around 82,000 chargers today.
Osprey is one of the UK’s largest public charging networks, providing reliable rapid and ultra-rapid charging infrastructure with uptime exceeding 99%. In this next stage of deployment, Osprey will continue to target quality over quantity, reflecting a focus on customer service, reliable operations, and financial strength.
Chancellor of the Exchequer, Rachel Reeves, said:
We’re investing in Britain’s renewal, bringing our infrastructure into the 21st century, improving people’s day to day lives, and putting more money into their pockets through economic growth.
The National Wealth Fund is helping us achieve that change, backing the industries of the future and accelerating Britain’s transition to a clean energy superpower.
John Flint, National Wealth Fund CEO, said:
The successful transition to EVs is key for net zero but this relies heavily on ensuring people can access reliable charging where and when they need it.
Our financing for Osprey, one of the UK’s leading charge point operators, will directly support the roll out of thousands of new rapid charging points at public locations across the country, helping drivers to make the switch to electric vehicles and the decarbonisation of transport in the UK.
Ian Johnston, Osprey Charging CEO, said:
We’re delighted that financial institutions are supporting the work our fantastic, dedicated team are doing. At Osprey, we build the charging hubs customers want – clean and secure, super-fast, easy to use and easy to pay for. In short, where I would choose to stop and re-charge with my family.
Philippe Bazin, Head of Sustainable Energy at Novuna Business Finance commented:
This latest transaction builds on our strong existing relationship with Osprey and reflects our shared commitment to accelerating the electrification of our road transportation systems.
By financing high-quality charging infrastructure and electric vehicles, we’re proud to be enabling practical, scalable solutions for businesses and consumers to make the shift to sustainable mobility.
Alex Kipling, Head of Infrastructure Finance, London, at Société Générale, said:
Osprey will support the UK’s vital transition from internal combustion engine vehicles to electric vehicles by expanding charging infrastructure. We are pleased to support Osprey as they grow their network, a project that aligns well with the bank’s ESG ambitions.
Lauren Pamma, Head of Energy and Infrastructure at Aldermore, said:
We recognise that delivering the right charging infrastructure in the right places is absolutely critical to accelerating electric vehicle adoption across the UK.
We’re proud to partner with Osprey Charging and this multibank facility underlines our commitment to backing high quality, sustainable energy projects that deliver real benefits for drivers, businesses and local communities.
Ross Schloeffel, Energy and Infrastructure Partner at Linklaters, said:
We are delighted to have advised Osprey on this landmark financing – among the first for EV charging businesses globally.
Bringing together UK and international financial institutions, the success of the financing highlights the growing maturity of the EV Charging sector and its emergence as critical infrastructure in the UK and beyond.
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