French oil company TotalEnergies has said it has signed a binding agreement with UK power firm SSE, to create a joint venture under the brand ‘Source’.
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It is hoped that Source will be a major player in EV charging infrastructure in the UK and Ireland. The new business will deploy up to 3,000 high power charge points in both countries over the next five years.
The charge points will be 150 kW and more, grouped in 300 “EV hubs”, targeting 20% market share, the companies said.
Mathieu Soulas, Senior Vice President New Mobilities at TotalEnergies, said: “TotalEnergies is proud to contribute to the development of electric mobility to decarbonize transportation in the UK and Ireland.”
TotalEnergies did not provide indication of total investment amount, but did say rates today for rolling out 3,000 fast-charge points uring direct current electricity, was on the order of €300 million, Reuters reports.
Neil Kirkby, Managing Director of Enterprise at SSE, said: “SSE is already playing a leading role in decarbonising the UK and Ireland’s power system including building the world’s largest offshore wind farm and transforming electricity networks.”
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.
The two firms are already partners in Scotland’s largest offshore wind farm, Seagreen.
