Zenobē, the fleet electrification and battery storage specialist, has funded more than 280 electric buses under a committed finance framework agreement (CFFA) with bus operator Go-Ahead.
The CFFA is the first of its kind in the bus industry – providing Go Ahead Group with a pre-agreed, scalable credit line that can be drawn down as required to support its fleet electrification programme.
Go Ahead Group is planning to electrify its entire fleet by 2035 and, when operators have limited control over contract award dates and vehicle supply chain delays, the ability to access financing flexibly and exactly when it is needed is critical.
Rather than entering into repeated negotiations and executing individual lease agreements – a process often slowed by administration and complexity – funding can now be drawn down quickly under pre-agreed terms.
As fleet electrification scales, the agreement provides far greater cost certainty for the operator. This supports more effective long-term planning and delivers lower monthly payments as more vehicles are financed.
To date, more than 280 vehicles from four different OEMs have been funded under the CFFA.
Gonzalo Velasco, Group Structured Finance Director, Go-Ahead Group, said: “Electrifying our bus fleet at pace is central to our strategy, but it requires financing solutions that are flexible, scalable and quick to execute.
“This committed finance framework with Zenobē gives us certainty that funding is available when we need it, while removing unnecessary complexity and delay.
“As routes are awarded on a franchise-by-franchise basis, the ability to draw down funding rapidly under pre-agreed terms supports more effective planning and enables us to accelerate the rollout of zero-emission buses, while continuing to focus on delivering reliable services for passengers.”
