International law firm Osborne Clarke has advised one of Europe's largest investors in renewables, Octopus Energy Generation on its first funding deal in the UK's electric vehicle (EV) charging infrastructure.
Octopus Energy Generation is backing Manchester-based public charging network Be.EV with up to £110m on behalf of its Sky fund (ORI SCSp). This will help grow Be.EV's 150-strong public charge point network as it plans to install 1,000 new EV charge points by 2024, starting in the North of England. The project will see Be.EV expand its network by over 600% and support the growing EV market.
The Osborne Clarke team was led by Partner Matthew Bodfield (equity) who was supported by Associate Director Alex Underwood and Associate Rachel Barbour (corporate). Partner Alistair Curzon led on the debt side supported by Associate Director Michael Kruger. A cross sector team of specialists also advised; Partners Simon Hobday and Hugo Lidbetter, Associate Director Josh Taylor, Associates Arthur Hopkinson and Griffin O'Rourke (energy regulatory and due diligence); Associate Directors Nicholas Grewal, Keir Pimblett and Associate Harriet Weedman (construction and commercial); Legal Director Chris Groves (property); Associate Alice Spicer Edwards (employment); and Partner Anika Chandra and Associate Director Robert Thomas (tax).
Matthew Bodfield, Partner at Osborne Clarke commented: "It was a pleasure to support the Octopus Energy Generation fund management team on this critical funding deal that will help to accelerate the country's transition to green, electric transport and support the UK's broader net-zero target."
Osborne Clarke has a market-leading practice for mid-market tech M&A and works closely with founders, shareholders, management teams and institutional investors to support them through the course of a company's life-cycle and its milestone transactions. As businesses strive to meet the challenges of decarbonisation, the team’s experience and understanding of this sector also means they are well placed to advise on companies' decarbonisation journeys.