June 09, 2023

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Ofgem to invest $425 mln in EV infrastructure

Ofgem to invest $425 mln

Ofgem to invest $425 mln in EV infrastructure

A UK based Ofgem an energy market regulator said that it will install 3550 EV chargers across the UK. It will invest 300 million pounds in more than 200 low-carbon infrastructure projects to prepare India for more electrification. Let us know more about Ofgem to invest $425 mln in electric vehicles infrastructure. 

The investment by the company is part of a 40 billion pound investment plan for Britain to decarbonise and to electrify and maintain the energy supplies. As part of its aim to reduce the carbon emissions in the country, it will ban the sales of new petrol and diesel cars from 2030. As it will take a lot of time and efforts to switch to electric from petrol.

At motorway service areas key trunk roads there will be some 1800 new ultra-rapid chargers installed and later on 1750 chargers will be added in towns and cities. This will be delivered within 2 years.

“An extensive motorway charging network and more charging points in cities and train stations will help address this range anxiety,” Ofgem said.

Ofgem boss Jonathan Brearley said: “This £300m down-payment is just the start of building back a greener energy network, which will see well over £40bn of investment in Britain’s energy networks in the next seven years.

“The payment will support the rapid take up of EVs, which will be vital if Britain is to hit its climate change targets. Drivers need to be confident that they can charge their car quickly when they need to.”

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