Aberdeen Investments and Rock Rail — via the Next Generation Rail Fund — have reached financial close on a landmark transaction supporting the delivery of the UK’s first major fleet of battery-electric bi-mode trains and associated rail infrastructure for TransPennine Express (TPE).
The investment will support the delivery of 29 new five-car trains as part of the £11 billion Transpennine Route Upgrade (TRU), one of the UK’s largest rail modernisation programmes, covering Liverpool, Manchester, Manchester Airport, Leeds, Hull, York, Scarborough and Saltburn.
Dominic Helmsley, Head of Economic Infrastructure at Aberdeen Investments, said: “This is a landmark investment for our Next Generation Rail Fund and a strong demonstration of what long-term institutional capital can achieve when it is aligned with the country’s infrastructure priorities.
“These new trains will form an important part of the modernisation of the TransPennine network, helping to improve capacity and reliability while supporting the transition away from diesel. The combination of electric and battery power also provides the flexibility needed to deliver those benefits as the wider route upgrade progresses.
“For investors, the transaction provides access to essential UK infrastructure backed by long-term contractual revenues. Just as importantly, it enables their capital to support tangible improvements to the railway, passenger experience and regional connectivity.”
Mark Swindell, Founder and CEO of Rock Rail, said: “As a person who grew up in the northeast of England, I am delighted that Rock Rail has today driven over £1 billion of investment into trains for the north of England linking Liverpool through Manchester and York to the northeast coastal towns.
“This is after my founding of Rock Rail over 12 years ago and developing 5 projects with over £3 billion invested to fund rolling stock for services in and out of London.
“I would like to thank TPE, Alstom and the TRU programme for entrusting Rock Rail with funding and delivering this important project. At Rock we care about improving the passenger experience we feel strongly this project will deliver a step-change in experience, journey times and environmental benefit.”
Manufactured by Alstom in Derby using its Adessia Stream platform, the fleet will combine overhead electric power with battery capability.
This will allow the trains to operate across both electrified and non-electrified sections of the network, reducing reliance on diesel while retaining the flexibility required as TRU electrification is delivered in stages. Battery-charging infrastructure will also be installed at Hull, Scarborough and Saltburn stations.
The fleet is expected to enter passenger service in the early 2030s, each train will provide 300 seats and incorporate enhanced accessibility features, including level access and a flat floor throughout the carriages.