Swiss Pension Funds Investing in Rapid Charging Stations
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Zurich-based energy transformation specialist EIP is putting the assets of Swiss pension funds into a joint venture for electric mobility. The partners want to set up 100 new domestic charging stations for e-cars.
Energy Infrastructure Partners (EIP), a Zurich-based energy transformation asset manager, signed an agreement with French e-charging station operator Electra on behalf of a group of Swiss pension funds, according to a statement Tuesday.
EIP manages the Credit Suisse Investment Foundation (CSA), which focuses on investments in Swiss energy infrastructure, for domestic pension funds. EIP will manage 49.9 percent of the new joint venture with Electra on behalf of CSA, and is expected to contribute 200 million euros,in initial capital by 2026.
The goal of the joint venture is to increase Electra’s installed charging stations in Switzerland and Austria. Plans call for an expansion of 100 fast-charging stations in each country by 2026. In addition to sites already secured in Switzerland, primarily in Geneva and Lausanne, Electra says it has an extensive pipeline of sites currently under review.
Questions & Answers
Q.What is the primary objective of the new joint venture?
What is the primary objective of the new joint venture?
The joint venture aims to expand Electra's charging station network in Switzerland and Austria. They plan to establish 100 new fast-charging stations in each country by 2026.
Q.Which entity is representing the Swiss pension funds in this investment?
Which entity is representing the Swiss pension funds in this investment?
Energy Infrastructure Partners (EIP), a Zurich-based asset manager, is representing a group of Swiss pension funds. EIP manages the Credit Suisse Investment Foundation (CSA) for these funds.
Q.How much capital is EIP expected to contribute to the joint venture, and by when?
How much capital is EIP expected to contribute to the joint venture, and by when?
EIP is expected to contribute 200 million euros in initial capital to the joint venture. This contribution is planned to be completed by 2026.
Q.Where are the charging station sites already secured in Switzerland located?
Where are the charging station sites already secured in Switzerland located?
The article mentions that sites have already been secured in Switzerland, primarily in Geneva and Lausanne. Electra also has a pipeline of other sites under review.