Third party (EV Network) wasn't known to me. Maybe they got some fantastic deal from BP when BP corporate were trying for maximum greenwash.
Looks like BP might pay a fixed service fee each year. EV Network - EVN are looking to lease/buy land, put in grid connections themselves and re-lease to charging networks and retail.
The only way I can see charging being a commercial success is to
concentrate on the retail/dwell time income from drivers & passengers while charging their vehicles - food, snacks, drinks, gifts, kids' stuff. So EVN probably have a reasonable business plan, especially if they can sublet a McDonalds or coffee shop close to charging (may not be possible at NEC). Presumably if BP defaults, EVN can get penalties/payoff & join with another charging network.
I think BP will regret this and look to offload to others. If they overcharge on the 7kW AC, they'll get little custom. Some people will charge at events because it saves a charge on return journeys and they're willing to pay for the convenience or because some people can claim back the expense.
Only if pricing is reasonable will they get enough custom. Also, Modern Heroes on Youtube said he expected there would be a need to book slow (AC) chargers, but that can change. DC chargers will be ok if they're reliable & competitive, with people being dropped off & their driver (eg parent for those working part-time at events) charging there. Also, some say the nearby trunk roads make the location useful.
www.theevnetwork.com
Over the past five years EVN has carefully selected and secured the very best sites in the UK, seizing first- mover advantage in what has become an increasingly competitive UK market. Through our strong relationships with high quality CPOs and landlords, The EV Network has become a distinguished player in the EV charging market able to provide our partners with fully funded bespoke technology and service solutions. Thanks to this early investment in intensive network planning, EVN is set to lead the roll out of the UK fast charging EV charging market.
- Our model is based on ‘Infrastructure as a service’ (IaaS). A turn-key EV charging site delivery solution. Consolidating multiple interfaces on behalf of the client and decreasing cost. EVN’s unique and simple model uses its investment and asset company to fully fund the entire capital costs of site development, allowing CPOs, Operators and Landlords the ability to introduce charging infrastructure to the UK consumer whilst managing their own capital
- We have raised £300m to develop and build a network of high-powered public chargers, and a further £100m to buy suitable freehold sites
- Our funding solution covers the entire CAPEX of the project including new grid connection and any retail operation
- With our funding model CPOs can increase their network without increasing their investment
- Landlords benefit from market-competitive long-term leases with a strong counterparty
www.theevnetwork.com
Financial Strength
- We offer 20 year CPI linked lease providing landlord’s with predictable long term income
- Highly competitive terms and fees
- EVN have the desire and ability to deliver multi-site portfolio deals whilst building strong long term relationships, allowing landlords to unlock value throughout their estate with a single trusted partner
- Backed by one of Europe’s leading infrastructure funds SEEIT
Multiple Charge Point Operators (CPOs)
- We work with several highly experienced CPOs which means we can take a larger number of sites
- Our CPOs are carefully selected based on their proven track record and customer experience ranking [edit: and one with a terrible reputation]
What Are We Looking For?
Leasehold Sites
- Six + car parking spaces on existing and new retail/leisure/roadside developments and town centres
- 20 – 30 year leases at market leading rental levels
- No upfront or ongoing costs to landlords
- Ground leases also considered
Freehold Sites
- We are looking for Sites from 0.2 to 2 acres along major travel routes and close to strong retail/leisure destinations, travel hubs and town centres
- Greenfield or brownfield sites considered as well as existing sites that can be converted
- Co-location opportunities with Drive-Thrus, supermarkets and retail parks
www.theevnetwork.com
Profiled service fee
- Operators will pay a fixed annual service fee inclusive of all development, EPC, maintenance costs and land rent
- The service fee is split into periods to support budgeting. Our investment enables us to reduce the initial service fee to help all our CPO's through the years of lower utilisation, we then go on to a tiered system pending the contractual term
- We would enjoy the opportunity to demonstrate how our financial approach can work for you
If you are a CPO looking to expand your network, please contact us today
