WionDrive News Desk 
French oil major TotalEnergies and British power firm SSE have announced a strategic partnership to launch a new EV charging company named Source. The joint venture, revealed on Tuesday, aims to secure a 20% share of the fast-charging market in these countries over the coming years.
Source, established as a 50/50 partnership between the two energy giants, has set an ambitious target to deploy and operate up to 3,000 fast-charge points across Britain and Ireland within the next five years. This extensive network will be powered by renewable energy supplied by both parent companies, underscoring their commitment to sustainable transportation solutions.
The joint venture will focus on installing 150 kilowatt (kW) fast-charge stations, which utilise direct current (DC) technology. These advanced charging points offer significantly reduced charging times compared to traditional alternating current (AC) chargers, capable of taking a typical EV battery from empty to full in just 30 minutes to an hour. This rapid charging capability is crucial for alleviating “range anxiety” among EV users and encouraging wider adoption of electric vehicles.
While TotalEnergies has declined to disclose the exact investment figure for this venture, industry estimates suggest that rolling out 3,000 fast-charge points could require an investment in the region of 300 million euros. This substantial financial commitment highlights the scale of the project and the companies’ confidence in the growing EV market.
The partnership between TotalEnergies and SSE is not their first collaboration. The two companies are already partners in Scotland’s largest offshore wind farm, Seagreen, demonstrating their shared interest in renewable energy projects. TotalEnergies brings to the table its extensive experience in charging point management, having already established a network of 2,500 charging points in and around London and approximately 65,000 in continental Europe, albeit mostly slow-charge stations.
Mathieu Solas, director of new mobility at TotalEnergies, emphasised the complementary nature of the partnership during a press briefing. “We have acquired certain expertise in charging point management, construction, implementation, and client services,” Solas stated, “and SSE knows the integrated electricity grid aspect of the business well, so the partnership is very complementary.”
The launch of Source comes at a crucial time for the UK’s transition to electric vehicles. The British government has recently passed a mandate requiring all new light vehicles to be zero-emissions, while Scotland has set an ambitious target of having one million EVs on the road by 2030. These regulatory changes are creating a fertile ground for EV charging infrastructure expansion.
TotalEnergies and SSE are not alone in recognizing this opportunity. Other oil majors, including Shell and BP, are also actively growing their EV charging businesses in the UK. This increasing competition in the sector is likely to accelerate the rollout of charging infrastructure and potentially lead to improved services and pricing for EV users.
The creation of Source represents a significant step in the evolution of traditional oil and power companies as they adapt to the changing energy landscape. By leveraging their combined expertise in energy supply, grid management, and customer service, TotalEnergies and SSE are positioning themselves at the forefront of the EV charging market in the UK and Ireland.
