Energy Infrastructure Partners (EIP), a leading investor in the energy transition, has signed an agreement to partner with Electra, a pioneering French company and one of the leaders in the energy infrastructure industry, on behalf of a group of Swiss pension funds it represents. Charging electric vehicles.
As portfolio manager of a Swiss pension fund investment group focused on Swiss energy infrastructure within Credit Suisse Investment Foundation, EIP will manage a 49.9% stake in the new joint venture and provide seed capital of EUR 200 million until 2026. The company’s mission is to expand the installed base of Electra charging stations in the Swiss and Austrian markets.
EIP’s goal in Electra is to add 200 fast charging stations over the next three years
In addition to the already installed sites in Switzerland, mainly in Geneva and Lausanne, Electra has a broad portfolio of sites in the pipeline. The goal of the joint venture is to install 100 fast charging stations in each country by 2026.
“Accelerating the transition to electromobility is high on the agenda for Switzerland and EIP. Given Electra’s rapid success in the French market and strong growth in strategic international markets, EIP is pleased to bring Swiss expertise and capital to drive the company’s growth,” said Peter Schuemers, Partner at Energy Infrastructure and Co-Head of Investments .
According to the European Association of Automobile Manufacturers, Switzerland has already developed into a proving ground for the electric vehicle industry. In 2023, new vehicle registrations will be 20% higher than in larger neighboring countries such as France and Germany. With a package of measures called the Electromobility Roadmap, the Swiss government is supporting efforts to almost triple the installed base of charging stations in the country and to increase the proportion of electric vehicles in all new registrations to 50%.
“We are delighted to be working with EIP, a well-known Swiss company that also specializes in energy infrastructure. Their participation demonstrates their confidence in our ability to rapidly grow our stations across the country,” said Aurélien de Meaux, Electra CEO.