Macquarie Capital’s proficiency will aid ChargeZone’s expansion into the next phase, catering to India’s swiftly escalating need for quicker charging infrastructure.
Macquarie Capital, functioning as the investment branch of the larger Macquarie Group, has recently completed the acquisition of a minority interest in ChargeZone. This move represents a strategic investment in the sphere of electric vehicle (EV) charging. The capital infusion from this deal is earmarked for ChargeZone to enhance its cloud technology-based EV charging network.
The involvement of Macquarie Capital brings with it a wealth of expertise, which is expected to be pivotal in guiding ChargeZone through its next phase of expansion. This is particularly relevant as ChargeZone aims to address India’s escalating demand for more efficient charging infrastructure.
India, now recognized as the world’s most populous nation, is witnessing a surge in consumer demand coupled with an expanding manufacturing sector. This trend is contributing to a heightened need for energy and transportation solutions, potentially leading to a substantial increase in the country’s energy imports. In response to these developments, the Indian Government has underscored the urgency of decarbonizing the transport sector. It has set an ambitious target of achieving 30 per cent electrification of the country’s vehicles by 2030. Advancing the rollout of rapid charging infrastructure is seen as a crucial step in supporting this transition.
Kartikey Hariyani, the Founder and CEO of ChargeZone, feels that their ultimate aim has always been to expedite the adoption of electric vehicles and the establishment of EV charging infrastructure across India. This collaboration with Macquarie Capital is a significant leap forward in our unwavering commitment to this aim and reflects their dedication to steering India’s urban transportation towards a more sustainable future.
Ivan Varughese, the Senior Managing Director and Head of Infrastructure and Energy Capital for Asia Pacific at Macquarie Capital, also expressed that the ongoing energy transition remains a focal point of their efforts, as they utilize their extensive sector knowledge to assist the clients in creating sustainable and vital infrastructure assets. These assets are instrumental in connecting local communities and propelling the decarbonization initiatives in India.
In line with its dedication to sustainability, ChargeZone is actively incorporating renewable energy sources to power its charging stations. The company has set a goal to ensure a significant proportion of its chargers are powered by renewable energy by