Balfour Beatty is expanding into the electric vehicle (EV) charging market through the launch of a partnership with an EV charge point operator.
The partnership with Urban Electric Networks, called Urban Fox, will receive up to £60m of capital from Balfour Beatty Investments, Balfour’s investment arm.
The money is expected to fund the roll-out of up to 35,000 charge points across local authorities in the UK over the next decade.
Urban Fox will provide councils with funding, building, operating and maintainance of 7kW on-street EV charge points. The partnership claims this is “the first of its kind”.
The charge points will be retractable when not in use and will be installed according to consumer demand.
Fully retractable charge points
Urban Fox said the venture will support local authorities achieve green targets as set out in the government’s EV infrastructure strategy, while helping to meet a growing demand for on-street EV charge points.
The retractable charge points will be suitable for installation in around 80% of the UK’s streets, according to a five-year pilot done in Oxford, Dundee, Plymouth City an Staffordshire County councils.
Balfour Beatty Investments’ CEO, Gavin Russell, said: “To achieve the government’s 2050 net-zero strategy, it’s imperative that alternative energy sources are widely available and accessible.
“Balfour Beatty’s close and longstanding relationships with local authorities across the length and breadth of the UK make us well able to tackle the challenge head on; putting our unrivalled capability in providing green infrastructure for communities and our innovative, collaborative spirit to good use.”
