Delivery of Rock Rail’s first fleet moves closer as Siemens tests new trains

  • Rock Rail

The programme to introduce a £200 million fleet of brand new trains for Govia Thameslink Railway (GTR) on services between Hertfordshire and Moorgate has passed an important milestone with over half the carriages now manufactured and entering the testing phase.

Eleven newly-built Class 717 Desiro City trains are now undergoing testing whilst a further fourteen trains are currently in the process of being manufactured. The full fleet of 25 trains is expected to be phased into service from late autumn this year until next spring.

A Siemens team of approximately 200 people is delivering the manufacturing, commissioning and testing phase, which involves testing the new Class 717 Desiro City trains against a variety of measures, including putting the trains in a climatic chamber to assess their endurance in extreme weather conditions.

The 25 six-car trains, financed by Rock Rail Moorgate, (a joint venture between Rock Rail Holdings and Aberdeen Standard Investments), represent the first fleet of trains to be introduced into the UK using a new model for financing rolling stock. For the first time financing has been provided through direct long-term investment from pension and insurance companies, delivering benefits not only for the rail passenger, but also for pensioners and the wider economy.

The Class 717s will replace the existing Great Northern fleet of Class 313 trains, built in the late 1970s, and will operate on Great Northern suburban services from Welwyn Garden City, Hertford and Stevenage to and from Moorgate in the City of London. Bringing a 27 per cent increase in fleet capacity, these trains are a key element of RailPlan 20/20, the programme by Great Northern’s parent company Govia Thameslink to carry 60,000 more passengers through, in and out of central London.

The Siemens-built trains will offer passengers a range of benefits including more space on board thanks to full width inter-vehicle gangway, climate-controlled air-conditioning, and advanced information systems providing updates in real time. All carriages are equipped with full Wi-Fi functionality and power points.

Richard Carrington, Director of Rolling Stock Projects at Siemens, said:

“The testing phase marks an important milestone in plans to introduce this new fleet of advanced trains for Great Northern services.

“We have designed and built the trains with one goal in mind – to transform passenger journeys to and from London by ensuring that services are reliable and offer as much space as possible. It’s therefore crucial that the trains are put through this testing to ensure they’re fit to meet this purpose and allow passengers to enjoy the full benefits of these new and modern carriages.”

Gerry McFadden, Engineering Director of Govia Thameslink Railway, said:

 “We’re bringing in these spacious new trains as part of our RailPlan20/20 programme to modernise services on Govia Thameslink Railway.

“The Class 717s will transform journeys for passengers on our busy metro services into Moorgate. They will all be the maximum length for this route and feature air conditioning as well as power points, Wi-Fi and real-time passenger information screens to make travelling with Great Northern a much more comfortable and convenient experience.

“Wide doors and spacious interiors will help address the huge increase in passenger numbers into Moorgate that have doubled in just 14 years. Easier movement on-board will also help passengers board and alight promptly, helping us keep trains running on time.

“We will maintain these trains at our Hornsey depot, where a £multi-million investment is providing the new facilities and equipment.”

Mark Swindell, Chief Executive Officer of Rock Rail, said:

“The testing of the Class 717 trains represents a key milestone in the successful delivery of the first of the fleets owned by Rock Rail and equity partner Aberdeen Standard Investments.

“We are proud to be part of a collaboration with Govia Thameslink Railway and Siemens and with our investor partners to drive better value for the UK tax payer and government and to deliver step changes in improved capability, services and travelling experiences for passengers on the Great Northern services between Moorgate and Hertfordshire.”

 

 

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Driving Net Zero: How Rock Road 
Is Funding the UK’s Bus Transition

Accelerating the shift to clean, affordable, zero-emission transport

Year
2025
Category
Rock Road
Share

The Challenge

The UK bus network is at the heart of everyday travel – but over 30,000 diesel buses still need replacing to achieve a fully zero-emission fleet.

While around 5,000 battery-electric buses are already on the road, the high upfront cost of electric vehicles and depot electrification continues to slow the transition. Traditional funding routes — such as government grants or short-term bank finance – have helped start the journey but cannot support decarbonisation at the scale required.

A new, sustainable funding model was needed: one that could attract long-term capital, spread costs fairly, and give operators and authorities confidence in the future.

The Solution

In 2021, Rock launched Rock Road to deliver exactly that –  applying its proven infrastructure financing approach from the rail sector to the UK’s clean bus revolution.

Working with Aviva, the National Wealth Fund, and HSBC, Rock created a dedicated investment platform that channels infrastructure-style finance from pension funds and institutional investors directly into zero-emission bus projects.

This model provides:
  • Access to billions in long-term private capital for fleets and depot electrification.
  • Low-cost, sustainable finance tailored to public-sector needs.
  • Comprehensive risk transfer, including residual value and battery performance, supported by Rock’s in-house team of engineers and asset managers.

Impact

The platform has already raised £100 million, with capacity to scale to £1 billion per year over the next decade – providing a consistent source of affordable capital for local authorities and operators.

Rock’s model ensures that the total cost of ownership (TCO) of electric buses can now be lower than diesel equivalents, thanks to both cheaper long-term finance and reduced operating costs.

In London, Rock has financed 120 zero-emission buses under 7-year leases aligned with Transport for London’s contract lengths. This structure gives operators flexibility and certainty:

  • Buses can be returned, renewed, or upgraded at the end of term.
  • Lease rates are predictable and capped.
  • Ownership and residual risks sit with Rock, not the operator.

The Future

Rock Road’s ambition is to support the rollout of zero-emission fleets across the UK – helping local authorities and operators meet climate goals without overextending public budgets.

By leveraging limited government funding to attract large-scale private capital – for example, £10 million of public investment unlocking over £250 million in total funding – Rock’s model accelerates decarbonisation while keeping costs low for the public sector.

Our ambition is to make electric buses the default choice - not because of subsidy, but because they are the best economic and environmental option.
Louis Swindell
Commercial Director, Rock Road