London bus company Transport UK London Bus (TULB) introduced a fleet of electric double-decker buses to one of their busiest routes in London, route 63. Designed to support the 29-strong EV fleet, the operator developed its Walworth depot in London to incorporate fully electric routes with power infrastructure, maintenance and charging facilities.
The company partnered with Siemens and Siemens Financial Services to acquire the total solution, from initial consultancy, through to depot redesign and retrofit, charging infrastructure implementation and optimisation, software management systems, and ongoing maintenance and optimisation.
TULB needed to find a charging solution for its limited footprint Walworth depot that could provide enough power to keep buses running during the day, with limited time to ‘top up’ and then provide significant charging power to charge overnight. The maximum charging time available for the buses on this busy route is c.7hrs.
The Siemens solution was an end-to-end depot electrification, comprising of consultancy and depot simulation to identify opportunities to install charging solutions in the depot, whilst minimising space used; and installation of 34 150kW Industrial Rapid Chargers
In order to make this solution financially manageable for TULB, Siemens Financial Services constructed a tailored, ‘smart’ financing package – embracing consultancy, technology, software, grid connection and ongoing maintenance.
Structured across 14 years in line with the company’s contract with Transport for London, the financing arrangement eliminates the need for capital to be tied up in the solution – an important liquidity advantage for TULB. The financing solution was also flexed to be sensitive to TULB cash-flow requirements, with a low-start profile ramping up over time, aligning payments with benefits for the bus operator.
“With the strength of financial support through Siemens Financial Services, Transport UK London Bus was able to build its electric fleet, including depot, charging infrastructure and grid connection, while minimising capital expenditure,” says John Eardley, managing director of TULB.
