Investment case
The asset consists of 65 electric train sets replacing diesel trains on the East Coast Main Line, a key transport route from London to Scotland.
The trains are leased to a train operator on a 27-year availability-based lease contract that is guaranteed by the UK Department for Transport. A full scope operations and maintenance (O&M) contract with Hitachi, including performance guarantees, is in place.
Sustainability impact
According to the UK Office of Rail and Road (ORR), only 38 percent of Britain’s railways are electrified. Investments in electrified rail fleet infrastructure is critical to meet UK Network Rail’s target of a net zero railway by 2050.
Introduced on the East Coast Main Line in 2019-2020, the ATE trains replaced aging diesel trains and made an important contribution to decarbonizing the UK transport sector. With greater passenger capacity, the ATE trains relieve pressure on other transport modes, leading to avoided CO₂ emissions. The trains carry approximately 22 million passengers per year.