Zurich-based energy transformation specialist EIP is putting the assets of Swiss pension funds into a joint venture for electric mobility. The partners want to set up 100 new domestic charging stations for e-cars.
Energy Infrastructure Partners (EIP), a Zurich-based energy transformation asset manager, signed an agreement with French e-charging station operator Electra on behalf of a group of Swiss pension funds, according to a statement Tuesday.
EIP manages the Credit Suisse Investment Foundation (CSA), which focuses on investments in Swiss energy infrastructure, for domestic pension funds. EIP will manage 49.9 percent of the new joint venture with Electra on behalf of CSA, and is expected to contribute 200 million euros,in initial capital by 2026.
The goal of the joint venture is to increase Electra’s installed charging stations in Switzerland and Austria. Plans call for an expansion of 100 fast-charging stations in each country by 2026. In addition to sites already secured in Switzerland, primarily in Geneva and Lausanne, Electra says it has an extensive pipeline of sites currently under review.