A&O advises on financing for InstaVolt’s rapid EV charging infrastructure
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Allen & Overy has advised a consortium of lenders on the GBP110 million senior debt financing for InstaVolt, which will support the growth and development of its rapid electric vehicle (EV) charging infrastructure in the UK.
Headquartered in Hampshire, InstaVolt develops, installs, owns and operates rapid EV charging stations in the UK. Following the acquisition earlier this year by purpose-driven global investment organisation, EQT, InstaVolt is on track to be the largest owner-operator of rapid DC charging stations in the UK. Financing was provided by commercial banks to fund the continued expansion of the business.
Lead partner Ed Moser said: “We were extremely pleased to act for the consortium of lenders on this important financing which will enable InstaVolt to significantly invest in the expansion of UK charging points. The development of EV charging infrastructure in this way plays a key role in facilitating EV adoption as part of the decarbonisation of the UK transportation sector and driving the transition towards net zero.”
The A&O team comprised partner Ed Moser, senior associate Sarah Mulcahy, associates Rhushub Bidd and Joon Ku Kang and trainee Alexandra Butler.