Case Study: World’s first electric forecourt
9 March, 2021
Gridserve employed Everoze to provide due diligence services for the construction financing of their first Electric Forecourt® development in Braintree, Essex. This comprised super-fast, reliable charging for up to 36 cars at the same time, a 5MW/6MWh battery storage system and 200kWp of roof-top solar PV.
This was a pioneering transaction that required an agile approach. LiveDiligence was used to structure, report and collaborate on the risk review.
Benefits delivered by LiveDiligence
LiveDiligence enabled Everoze to efficiently coordinate and iterate input from multiple technical specialists, in this highly innovative project. This spanned review of the technology (hardware and software), construction contracts and warranties, aggregator agreements, planning, grid and the financial model.
- Live dashboards used by the client to stay on top of project status.
- Automatic risk filters used by the advisor to better focus review, and as agenda for client calls.
Jeremy Cross, Chief Commercial Officer, GRIDSERVE (sponsor)
‘Our Braintree project is pioneering, as the World’s first Electric Forecourt®, which is now open and welcoming customers! In such an innovative project, we found the live updates enabled by LiveDiligence to be invaluable – ensuring that we always had the latest risk status to hand’.
Jo de Montgros, Founder, Everoze (advisor)
‘LiveDiligence simplifies our reporting by allowing live access to our full team and client. This lets us manage quality while delivering fast commercial feedback to our clients.’