Electric Vehicle Charging Hubs Joint Venture

Description

Places for London Limited (Places for London), a wholly owned subsidiary of Transport for London (TfL) is commencing a procurement process to appoint a Joint Venture (JV) partner to design, build and operate up to five (5) Electric Vehicle Charging Hubs as well as carrying out ancillary and/or complementary development and use of the sites where relevant. In collaboration with a Joint Venture partner, Places for London is looking to position TfL in the Electric Vehicle (EV) charging growth market, utilising TfL land to develop EV charging infrastructure.   The purpose of the JV is to fund, design, build, operate and maintain electric vehicle (EV) charging infrastructure and ancillary services to support the electrification of road traffic in London. The objective of the JV is to generate, long-term sustainable and growing dividends for the JV participants by delivering material improvements in the number, distribution, accessibility and sustainability of EV charging infrastructure; all of which will directly contribute to London's transition to a net-zero carbon city. Lot 1: Places for London's Joint Venture (JV) proposition is based on it holding a minority share (49 per cent) in a JV company which will design, build, operate, and maintain industry-leading electric vehicle charging infrastructure, as well as ancillary and/or complementary facilities, on up to five (5) properties. The participants in the JV company will be a Places for London subsidiary company and the successful bidder chosen from the procurement process related to this Concession Notice. Due to the criticality of operations, it is vital that this procurement process ensures the appointment of a JV partner with significant experience of deploying electric vehicle charging hubs and an excellent reputation for operating a reliable charge point network. Five (5) hub sites will form the scope of the initial opportunity, but this may be scaled up to circa sixty-five (65) hub sites over the full term of the JV. It is envisaged the lease for each site will be thirty (30) years, however, due to the phasing of sites potentially being in scope the JV itself will run for at least fifty (50) years. The value stated in this Concession Notice is the estimated turnover the appointed JV partner may receive for all circa sixty-five (65) hub sites excluding VAT. With VAT included this value is estimated to be c£3,600,000,000.