EDF Group plans to double its ultra-fast charging fleet by partnering with Morrison, a global specialist in infrastructure investments. On February 29, they entered into a strategic collaboration and created a joint financing platform. The duo aims to invest 450 million euros to deploy 8,000 ultra-fast charging points in France by 2030.
Growing need for charging solutions
EDF, the main electricity producer in France, already has many investments in the exploitation of renewable energy. In 2019, 713 million euros were allocated to research and development for the energy transition. For his part, Morrison is one of the world’s most successful investors. They chose to join forces to invest in the development of ultra-fast charging.
The Council of the European Union has recognized it: in 2035, no new thermal vehicles will be sold in the Union. Thus, this investment is essential, as the demand is increasing. The objective is to maximize charging points for electric vehicles, especially private/public parking spaces (restaurants, stores, etc.). It is therefore associated with the following observation: The number of electric vehicles in the French market will continue to grow, with an estimate of 6.5 million vehicles by 2030.
On February 14, 2023, the President of the Republic Emmanuel Macron announced the climate goals. The European Parliament has just approved this shift. Our Europe is leading the way! »
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A smart partnership
Morrison Group Executive Director Pia Lambert expressed her enthusiasm for this collaboration with EDF Group and its subsidiary Izivia. She said: “This project represents another significant step for Morrisons into the European market. We believe that investing in companies that address the age-old challenges of modern society — such as our modes of transportation and their energy supply — is key to the success of our investment strategy. »
So Morrison finds an ideal partner in Ezivia. The collaboration aims to actively participate in the energy transition, particularly by reducing carbon emissions, thus providing momentum towards a healthier future.
With a full transition to electric vehicles likely by 2035, could charging stations be the new El Dorado for investors?
