Crédit Agricole CIB has taken part in a landmark €325 million senior debt financing to further Zenobē’s roll-out of up to 1,000 battery electric vehicles and associated charging infrastructure across continental Europe.
Zenobē, originating in the UK and backed by infrastructure investors KKR and Infracapital, has rapidly grown into a leading operator in battery storage and electric bus fleets. It now holds approximately 28% of the UK electric bus market and is expanding into the Benelux region, Finland, and Spain.
The financing marks a key milestone for the company’s international growth and contributes to Europe’s shift towards sustainable transportation by enabling the deployment of electric buses and trucks and supporting more inclusive, eco-friendly public transit systems.
Crédit Agricole CIB signalled this deal as a testament to its burgeoning credentials in e‑mobility and energy-transition financing.
Matthew Norman, Global Head of Infrastructure & Advisory, said: “Congratulations to all teams involved on closing this landmark electric fleet financing transaction with Zenobē. This deal strengthens the Bank’s position in the energy transition space and builds our credentials in the rapidly growing e‑mobility sector. We look forward to leveraging this success for future global opportunities.”
Tom Wellingham, Director – ERA, EIG, Infrastructure EMEA, commented: “Zenobē is a leading business in the low carbon mobility space and one we have watched with great admiration as it has built its market leading position. We are delighted to support Zenobē in deploying their unique offering in continental Europe and look forward to building on this relationship for further opportunities globally.”
Henry Manson, Director – Infrastructure Coverage, added: “Building on the UK grid‑scale battery storage project on which Crédit Agricole CIB acted as Mandated Lead Arranger earlier this year, we are delighted to expand our support for Zenobē with this latest transaction. The new €325m debt facility will fund the expansion of its electric bus fleets‑as‑a‑service offering in Europe, showcasing the Bank’s ability to partner with our infrastructure fund clients, KKR and Infracapital, to drive energy transition across new market thematics.”
