From self-delivery to expert-led scale
After a self-delivered 6-vehicle pilot, Brinks partnered with Zenobē to scale to 25 vehicles in 12 months, cutting costs and timelines whilst projecting $800k in fuel and maintenance savings.
Transport UK - funding innovation to electrify London's bus network
30%
of TUKLB fleet now fully electric
193
vehicles financed
12
Transport for London routes supported
In September 2023, Zenobē partnered with Transport UK London Bus (TUKLB) to develop a funding model that has enabled TUKLB to become one of the leading operators of fully electric buses in London. This case study examines how tailored financing enabled TUKLB to spread costs for vehicles, charging infrastructure, e-bus batteries and their replacement, and looks at the delivery of the charging infrastructure, including the end-to-end electrification of the operator’s Southall depot.
The challenge
Transport UK London Bus had clear aims for the transition of its fleet to electric: to grow its EV fleet to operate existing routes and secure new routes in London; provide sustainable and robust infrastructure that allows the business to anticipate and accommodate future needs; deliver a growth strategy with sustainable transport at its heart, supporting TfL and the Mayor of London’s 2030 vision; and work with a partner that can innovate and adapt to evolving projects.
Transport UK’s Southall depot sits in a constrained network area, meaning there wasn’t enough power available locally to sufficiently power the depot and charge the 25 electric vehicles being procured for TfL routes E5 and E7.
The solution
We secured and financed a 500kVA grid connection on behalf of TUKLB, working with the DNO and ICP to coordinate its procurement and installation. The grid connection was supplemented with a 1.2MW/1.2MWh battery to ensure all buses could be sufficiently charged without the need for a more costly grid connection upgrade. With the grid connection secured and supplemented, we installed 13 x 150 kW Zerova DC chargers, with all infrastructure financed under a 14-year Charging Service Agreement.
In tandem with the infrastructure development, we financed a fleet of 25 e-buses for TUKLB including 12 Wrightbus Kite Electroliners (single deck) servicing TfL route E7, and 13 Switch Metrocity (single deck) vehicles servicing TfL route E5. All vehicles are financed under a 14-year battery managed service and master rental agreement, which guarantees the performance of the on-board batteries for the duration of the contract period, removing the risk for TUKLB.
At Battersea depot, we provided flexible financing based on the specific needs of each route: Route C3 – 10 Wrightbus Streetdeck (double deck) vehicles under a Master Rental Agreement with a 14-year battery performance guarantee; Route 306 – 11 Wrightbus Streetdeck vehicles under a similar agreement, plus five Zerova chargers; and Route 133 – a full electrification programme financing 27 Wrightbus Streetdeck vehicles, on-board batteries and charging infrastructure, including project managing the installation of a 5MVA grid connection.
The outcome
Through the partnership, Zenobē completed the full electrification of Transport UK London Bus’s Battersea and Southall depots, integrated battery storage at Southall and mobilised 89 fully electric Wrightbus Electroliner buses.
Zenobē has now financed 193 vehicles across 12 TfL routes for Transport UK London Bus, including managing the batteries on all of these vehicles to ensure their successful operation is guaranteed. By underwriting the battery replacement cost risk for TUKLB, we reduce the total cost of ownership of their fleet and effectively manage the risks associated with electrification.
Since September 2023, Transport UK London Bus has doubled its full EV fleet, making it London’s first operator to have energised all of its depots. It now operates over 30% of its fleet with fully electric buses and, in the process, has removed around 200 diesel vehicles from London’s roads.
The bigger picture
The project demonstrates the benefits of having a fleet electrification partnership from the early phase of power integration through to the long-term operation and financing of the batteries and the vehicles. It also demonstrates the variety of vehicle types Zenobē can support with financing.
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