20 September 2019
- Nigel Hatfield, Stephanie Dunne, Camilla Blower, Anthony Stewart, Callum McKinnon, Michael Pearson, Dolly Aheto-Tsegah, Andrew Dean
Green technologies for a cleaner and healthier future: Clifford Chance advises Zouk Capital LLP on the establishment of the UK Government backed £400m Charging Infrastructure Investment Fund (CIIF).
International law firm Clifford Chance has advised Zouk Capital LLP, an independent London-based private equity fund manager with a focus on the European renewables market, on the launch of the £400m Charging Infrastructure Investment Fund (CIIF). The CIIF was recently launched as part of the UK Government announcing over £500m of new investment into green technologies.
The £400m fund, backed by HM Treasury and managed by Zouk Capital, will help develop public charging infrastructure points for electric vehicles across Britain, thereby facilitating the electrification of vehicles and supporting the UK Government's target of net zero carbon emissions by 2050. Management of the fund further strengthens Zouk Capital's long track record in renewable and sustainable investing.
The first £70 million of investment has been provided by the UK Government and UAE renewables investor Masdar. The initial funding has been allocated to the installation of 3,000 new rapid charge points, more than doubling the number of rapid charge points across the UK to 5,000.
The project was led out of London, with a core Clifford Chance team consisting of Nigel Hatfield, Stephanie Dunne and Camilla Blower (London, Funds) and Anthony Stewart, Dominique Pelides and Callum McKinnon (London, Tax). Support was provided by Michael Pearson and Dolly Haastrup-Quornooh (London, Project Finance) and Andrew Dean (London, Public Law), including with respect to the initial Zouk Capital bid to the UK Government to manage the CIIF.