According to the new research carried out by Alpha Real Capital LLP (“Alpha”), the specialist real assets investment manager, and Cornwall Insight, this was a small part of finding they carried as the UK government plans to ban the sale of petrol and diesel cars by 2030.
Will Morgan, Head of Renewables at Alpha Real Capital, said: “Growth in EV purchases will be essential to driving down costs and stimulating the level of investment in infrastructure needed to expand charging networks and achieve the UK Government’s ambitious goal of ending the sale of new petrol and diesel cars by 2030.”
Alpha runs a renewables business that invests in UK renewable energy infrastructure. Will Morgan, Head of Renewables at Alpha Real Capital believe the growth of the electric vehicle market could be a catalyst for further investment from institutional investors into the UK renewables industry.
Jacob Briggs, Senior Consulting Analyst at Cornwall Insight, said: “The growing appetite for EVs is encouraging and we can see this bearing fruit in vehicle sales – the number of EVs on the road continues to grow at pace with year-to-date registrations up 162% compared to 2019.
“To ensure consumer confidence and deliver the transition to transport electrification, it is vital that charging infrastructure across the country keeps pace with the demand, with the right infrastructure deployed in the right place to ensure the UK’s net-zero ambitions are realized.”
Alpha has completed over 50 transactions and invested or committed more than £600 million into UK renewable energy, providing predictable, long-term cash flows to investors.
Alpha’s renewables business invests in the majority of UK renewable energy infrastructure including wind, solar, hydro, and other low carbon energy resources.
Alpha’s renewables portfolio generates over 340 GWh of clean energy – enough to power over 110,000 homes, an annual CO2 offset equivalent to planting almost 50 million trees.