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Zenobe Energy – Abellio Bus Depot

Low Carbon Mobility

MEEF provided finance to Zenobe Energy to install a charging infrastructure solution at a bus depot operated by Abellio London, in Walworth, supporting the Mayor of London’s zero emissions transport plans.

Low Carbon Mobility
London, England
Funding type
Debt - £1m
financial close
June 2020
Term length
10 year loan


MEEF provided c.£1m debt funding to Zenobe Energy to part fund charging infrastructure at the Woolworth Bus Depot, serving the single decker P5 and new C10 bus routes. MEEF’s investment forms part of a wider funding package delivered by Zenobe Energy which includes the electric buses.

This innovative charging solution includes a static Battery Energy Storage system at the depot that ensures Abellio London’s charging requirements are met by the local grid infrastructure.

This is an important step in tackling London’s air pollution and supports the Mayor of London, Sadiq Khan’s commitment to zero emission transport in the capital, including a target to make all new single decker buses in central London zero emission by the end of 2020.

The new electric buses meet the new TfL Bus Safety Standard with Camera Monitoring Systems that replace traditional wing mirrors, Intelligent Speed Assist, Acoustic Vehicle Alert System and a revised front design to improve pedestrian and vulnerable road users safety.

This was MEEF’s first investment in the low carbon mobility sector since MEEF’s Investment Policy was widened in 2020.

Carbon savings per annum for the bus fleet

0,0 tonnes

NOx saving per annum for the bus fleet

0,00 kg

Sustainable Development Goals (SDGs)

2030 Agenda for Sustainable Development adopted by UN Member States in 2015

SDGs supported:


  • The investment ensured that the Walworth bus depot could meet the charging requirements of the single decker P5 and C10 bus routes 
  • Each bus is forecast to reduce carbon emissions by 37 tonnes and remove 31kg of NOx per year. Overall, the 34 buses in the P5 and C10 electric bus fleet save 1,247 tonnes of CO2 per year, the equivalent of taking over 1,100 cars off the road. 
  • The MEEF investment creates 1,069 kg of NOx savings per annum for the bus fleet 
  • The investment supported the growth of a London based SME delivering e-mobility and energy storage solutions

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