- PATRIZIA Infrastructure has entered into a binding agreement to invest over EUR 70 million in an ultrafast EV charging rollout programme in Germany through its flagship European Infrastructure Fund series
- The investment will finance the deployment of 400 ultrafast Numbat EV charging stations at 200 Tegut supermarkets across Germany
- Through the deal, a long-term exclusivity agreement with Tegut to install ultrafast EV chargers at their existing and future supermarket locations will be executed
- Numbat will manage the rollout and operations of the Tegut EV charging portfolio
- The investment delivers significant diversification for PATRIZIA’s infrastructure platform, marking its entry into the EV charging sector as well as the first investment in Germany for its European Infrastructure Fund series
Augsburg, London 16 October 2023. PATRIZIA, a leading partner for global real assets, has entered into a binding agreement for a transaction of over EUR 140 million in an EV charging rollout programme in Germany through its flagship European Infrastructure Fund series. The deal significantly diversifies PATRIZIA’s infrastructure platform by sector and country, marking the company’s entry into EV charging as well as the first investment in Germany for its European Infrastructure Fund series.
The investment of over EUR 70 million from PATRIZIA, alongside a c.EUR 70 million debt facility provided by a syndicate of German banks led by DAL (Deutsche Asset Leasing), will finance the rollout of 400 ultrafast Numbat EV charging stations at 200 locations of organic supermarket chain Tegut across Germany. As part of the deal, PATRIZIA has provided a convertible loan note to Numbat, who is the specialist developer and operator of the high-power EV charging solutions. PATRIZIA has also secured the right to finance further Numbat EV charging rollout programmes across Europe.
The deal presents significant upside potential and attractive growth opportunities. In the underlying exclusive contract with Tegut, a long-term exclusivity with the supermarket chain has been agreed to install and operate EV charging stations at their current and future locations in Germany. The future expansion of Tegut’s rooftop solar will deliver locally produced renewable energy to the charging stations.
Matteo Andreoletti, Head of Infrastructure for Europe and North America, comments: “Supporting the transition to green energy is one of our key long-term investment trends as we address the challenges of climate change. E-mobility has a significant role to play in putting us on the path to net zero and creating smarter, cleaner towns and cities. We are excited to fully leverage our expertise in both renewables and smart city solutions to drive the future value and growth of our partnerships with Numbat and Tegut."
Numbat has a unique solution for the e-mobility sector with technology that combines ultrafast charging, battery storage and advertising screens. A Numbat charging station can produce up to 300 kW charging power and has up to 200 kWh battery storage. The integrated battery provides a number of advantages including a more efficient rollout without the requirement for lengthy and costly grid upgrades, while also enabling the development of integrated energy systems utilising locally sourced renewables and providing virtual power plant services.
Martin Schall, CEO of Numbat GmbH, adds: “We are happy to have PATRIZIA as an experienced, well established infrastructure financing partner investing in the rollout and operation of the Tegut EV charging portfolio. With the installation of up to 400 chargers at the supermarkets, we will significantly contribute to the strong growing demand for fast chargers in Germany. Tegut can offer a convenient opportunity for EV drivers to charge their vehicles while they do their grocery shopping. At the same time, with our integrated battery storage, renewable electricity can be charged to the cars, supporting the joint vision of all involved parties to promote clean mobility solutions. We are very much look forward to equipping the locations throughout the next months.”
The demand for EV charging infrastructure is supported by strong regulatory and political backing. EU legislation will ban the sale of new petrol and diesel cars from 2035, while the German government is targeting 15 million electric vehicles in use by 2030. However, the installation of fast EV charging stations in Germany is growing at a slower pace than sales of new electric vehicles, which is expected to create a shortfall in suitable charging infrastructure until 2030.
PATRIZIA has been investing in mid-market European infrastructure since 2004 and has committed over EUR 2 billion across investments in a range of sectors including digital infrastructure, decarbonisation (notably bioenergy, waste-to-energy, & district heating), transport, and social infrastructure. PATRIZIA European Infrastructure Fund II continues to be ranked first out of its peer group by GRESB. As a member of the Net Zero Asset Manager’s Initiative, PATRIZIA Infrastructure has committed to reduce its portfolio carbon intensity by 49% by 2030 and achieve Net Zero status by 2040.
PATRIZIA: A leading partner for global real assets
With operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 39 years. PATRIZIA manages around EUR 58 billion in assets and employs over 1,000 professionals at 28 locations worldwide. PATRIZIA has been making an impact since 1984 by helping children in need, since 1992 in close collaboration with Bunter Kreis (“colourful circle”) in Germany for the care of children with severe diseases and since 1999 through its support for the PATRIZIA Foundation. The PATRIZIA Foundation has given more than 600.000 children and young people worldwide access to education, healthcare, and a safe home to get the chance to live a better self-determined life over the last 24 years. You can find further information at www.patrizia.ag and www.patrizia.foundation.
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