Engie has bought the operator of the GeniePoint electric vehicle (EV) charging network, ChargePoint Services (CPS), for an undisclosed sum.
The deal will create a combined rapid charging network of more than 400 stations, with the figure expected to rise to more than 500 by the end of 2019.
Engie’s chief executive for the UK and Ireland, Nicola Lovett said: “The provision of green mobility solutions is a key part of Engie’s wider strategy to help tackle air quality in cities and be a leader in the transition to a zero-carbon economy.
“Acquiring CPS is an important step in scaling up our ambitions in the EV market, complementing our existing energy supply activities and our partnerships with local authorities and businesses.”
CPS managing director Alex Bamberg said: “Becoming part of Engie is an exciting move for CPS. The combination of Engie’s renewable energy, hardware technology and installation capability, together with our own significant experience in EV charging network management, infrastructure rollout, and 24/7 customer service provision, will create a major player in electric vehicle fuelling in the UK.”
The acquisition is the latest in a series of investments by energy companies in EV charging networks.
As part of its efforts to rollout EV chargers across its forecourts, BP agreed to pay £130 million for Chargemaster in June 2018. Shell signed a deal to acquire the Dutch company NewMotion the following October, and in March of this year, Good Energy purchased a 12.9 per cent share in the owner of the live mapping service Zap-Map, with an option to take a majority stake within two years.