Total has agreed to acquire the electric vehicle charging company Blue Point London from the French conglomerate Bollore.
The oil giant will take over the operation and management of Source London – a citywide network of more than 1,600 on-street chargers.
Launched in 2010, the network was developed in partnership with the London borough and currently accounts for more than half of all chargers installed on the capital’s streets.
Total pledged to supply the network with 100 per cent renewable electricity through its subsidiary Total Gas and Power and reiterated its ambition to operate more than 150,000 chargepoints across Europe by 2025.
“By combining today these existing infrastructures with Total’s know-how in terms of installation, operation and management of public electric vehicle charging networks, we are starting a new phase, supporting the expansion of electric mobility in London,” said Alexis Vovk, president of marketing and services at Total.
“In collaboration with our partners and the local authorities, we will be able to meet both the strong growth in demand for on-street charge points and the needs for new mobility solutions of London users.”
The transaction, the value of which has not been disclosed, is expected to be completed by the end of this year.