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Stephenson Harwood advises Abellio on electric bus deal
Law firm Stephenson Harwood LLP has advised longstanding client Abellio on its recent deal with Rock Road and Wrightbus to operate a fleet of 30 new zero emission buses.
The firm advised Abellio on the manufacture and supply agreement for the new Electroliners, which were manufactured by Wrightbus, the Northern Ireland based bus manufacturer. The firm also advised on the financing arrangements with Rock Road, a subsidiary of Rock Rail, which provided a debt and equity funding solution for the financing of the buses.
Abellio operates over 800 buses across 51 routes on behalf of Transport for London, and is a trailblazer in electric transport and infrastructure. The state-of-the-art, zero emission Electroliners will replace diesel-electric hybrid buses, saving tonnes of CO2 from polluting the environment each year. The new vehicles will provide more comfortable, safe and accessible journeys for customers on route 111, which operates between Kingston and Heathrow from Abellio's Twickenham depot.
“This is an exciting development for our client, and marks an important stage in the electrification of London's bus fleet – and reaching the ultimate, wider target of net-zero in London by 2030," said Lisa Marks, partner, Stephenson Harwood. "This transaction aligns with two of Stephenson Harwood's areas of focus – decarbonisation and transportation and trade – and we were pleased to provide our in-depth understanding of, and experience in, these sectors."
Alastair Willis, head of commercial at Abellio, said: "We're proud to be introducing these high spec zero emission buses to London, and delighted to be providing many more sustainable journeys for our customers. The support we received from Stephenson Harwood enables us to drive toward cleaner, greener streets."
The team was led by partner Lisa Marks, who was supported by partner Tammy Samuel and associate Sophie Hutchinson.