EV charging company announces major UK network investment
Allego has announced plans to invest €100 million in the expansion of its UK network by 2030.
The EV charge point operator said the investment, secured with backing from long-term infrastructure investor Meridiam, would support the installation of up to 1,400 new ultra-fast charging points, and make Allego a leading player in the market.
Image: Allego
It said its network expansion would be focused on high-traffic locations on major roads and motorways, and densely populated areas such as London.
The company described its investment as a vote of confidence in the UK EV market, and said the country’s charging market was currently undersized compared with other European countries.
Steven Salo
Steven Salo, executive officer at Allego, said: “This €100 million commitment reflects our confidence in the UK electric vehicle market. The UK is electrifying quickly, but to keep up with demand the charging network must expand at the same pace. There is a clear need for more reliable, ultra-fast charging infrastructure, particularly along motorways and around the capital.
“We believe that the new Government will make the right policy decisions to help this market grow. With a supportive and stable policy and investment environment, the EV charging sector can deliver a significant economic growth opportunity for the UK while providing the infrastructure increasingly needed by drivers and businesses.
“This investment marks a major step forward for Allego. It will give us the scale to compete in the top tier of the UK charging market and bring our experience of operating across Europe to many more British drivers.”
Image: Allego
As part of its expansion, Allego said it was seeking partnerships with retail and hospitality businesses, along with landowners and property owners, for ultra-fast charging hubs to be hosted at strategic locations. It said it would meet the capital and operating costs of installations and pay partners a long-term lease.
Salo said: “Retailers, hospitality businesses and landowners have an important role to play in the next phase of the UK’s charging rollout.
“Our model removes the cost and operational burden associated with installing charging infrastructure. At the same time, it can attract new customers, enhance the experience for existing visitors and provide our partners with a long-term revenue opportunity.
“We are looking for ambitious partners with high-quality sites who want to join us in building the next generation of the UK’s ultra-fast charging network.”