TotalEnergies and SSE are hoping to get a 20% share of the electric vehicle (EV) fast-charging market in Ireland and the UK through a joint venture named Source, RTÉ reported today.
The French oil major and UK power firm will form a 50/50 partnership in Source.
Source will deploy and operate up to 3,000 fast-charging points in the two countries over the next five years, powered by renewable energy from both parent companies.
The 150 kilowatt (kW) fast-charging stations, which use direct current as opposed to alternating current, can fill an EV battery from empty to full in 30 minutes to an hour.
TotalEnergies declined to give an amount of the total investment.
However, the company said rates today for rolling our 3,000 fast-charge points, which use direct current electricity, was on the order of €300 million.
SSE and TotalEnergies are already partners in Scotland’s largest offshore wind farm, Seagreen.
TotalEnergies operates a network of 2,500 charging points in and around London and about 65,000 in continental Europe.
However, most of these charging points are slow-charge stations.
Mathieu Solas, director of new mobility at TotalEnergies told a journalist at a briefing, “We have acquired a certain expertise in charging point management, construction, implementation, and client services and SSEE knows the integrated electricity grid aspect of the business well, so the partnership is very complementary.”
