UK EV charging network Be.EV has agreed to spend £20 million (£26.6 million) to install more than 200 EV charging bays across 22 retail and leisure properties across the UK managed by Schroders Capital.

Be.EV will fully fund the installation and maintenance of the chargers at sites managed by five Schroders Capital real estate funds, including Schroder Real Estate Investment Trust and Schroders Capital UK Real Estate Fund.

Be.EV will install ultra-rapid Kempower chargers, which have a capacity of up to 300 kW and are capable of delivering up to 325 miles of range in as little as 20 minutes. The charging hubs, the majority featuring 6 to 12 charging bays, will be leased on a 20-year agreement based on index-linked market rents. The companies have exchanged legal agreements on the first three locations and expect to complete further exchanges in the near term.

Be.EV is majority-owned by Octopus Energy Generation’s £1.5-billion Sky Fund, which has pledged £110 million of funding. It currently operates a network of over 800 live charging bays across the UK, which it plans to expand to 1,600 by the end of 2025.

Source: Be.EV