Rock Rail purchases a brand-new fleet of Talent 3 Plus electric trains from Alstom for operation in Germany

Rock Rail and abrdn Core Infrastructure have announced an investment in Alstom-built 31 x 6-car Talent 3 Plus electrical multiple units for the Baden-Württemberg and Saale-Thuringia-Southern Harz (STS) networks in Germany.

The Talent platform is a well-established and popular platform in Germany with a track record of delivering a high-quality passenger experience since the 1990s. The Talent 3 Plus is the latest evolution in the development of the Talent platform.

The Talent 3 Plus is fully electric and has a maximum speed of 160 km/h that enables fast train travel and is state-of-the-art for regional transportation. The trains will be fitted with European Train Control System (ETCS) Level 2 (more on that below), which increases safety and efficiency on the network.

The fleet has a sliding step and PRM functionality, including a PRM-accessible toilet and a built-in ramp lift to aid boarding. The fire safety category “B” allows operations in tunnels of any length. Rock Rail has received feedback that the trains are very well received by passengers on account of the interior design, which is built to the highest standard.

The State of Baden-Württemberg is the third-largest German federal state in terms of population and an economic powerhouse of Germany with Gross Regional Product equivalent to the GDP of Sweden. The state government is delivering numerous rail infrastructure projects that will support the region’s targets to reduce carbon emissions and double rail passenger demand. Stuttgart, the region’s largest city, is getting a new, underground main station to replace its old ground-level terminus – the €10bn+ project is flanked by the project Digitaler Knoten Stuttgart (DKS), which rolls out ETCS Level 2 in the whole Stuttgart rail node increasing the capacity of the existing infrastructure. The Talent 3 Plus are joining a complementary, anchor fleet of Talent 3 trains and their ETCS-capability will match the train to the infrastructure.

The STS network is operated by Abellio Rail Mitteldeutschland and has experienced huge growth in passenger numbers since the introduction of Deutschlandticket, a German-wide regional train ticket for 49 euro per month. The Talent 3 Plus units supplement a large fleet of Talent trains leased to Abellio and are delivering additional capacity to the RB 25 line between Halle and Saalfeld.

  • ETCS

ETCS is state-of-the-art signalling technology – it is a standardised, transnational railway safety system that is already used in many European countries. It works by sending radio transmitted signals directly to the drivers’ cab rather than relying on light signals installed trackside. The system improves train control by allowing trains to run at shorter intervals and increases safety by automatically braking trains if they are travelling too fast or too close together.

Alstom is a global leader in the modernisation of railway systems and has developed an ETCS Level 2 system that is helping to increase rail transport capacity on existing lines, reduce maintenance costs and all while maximising safety. Alstom is installing the ETCS Level 2 equipment on board of the 31 Talent 3 Plus trains.

And ETCS is coming to the UK. In November 2023, Rock Rail’s Class 717 EMUs operating under ETCS Level 2 signalling carried Great Northern commuters to the City of London. Siemens Mobility supplied the signalling equipment for the first of its kind project, which is a vital pathfinder for the digital signalling masterplan across the UK network.

 

Henry Swindell, Investment Director, Rock Rail, added: “We are pleased to announce Rock Rail’s fourth major rolling stock acquisition in Germany. The transaction is proof of the continued recovery in the transport sector, which has seen disruption and change aplenty in recent years. The trains are already making a difference, delivering flexibility to service operations and a step change in the passenger experience.”

Nick Flynn, Investment Director, abrdn, said: “This represents the sixth major investment in rolling stock for the abrdn Core Infrastructure team solidifiying abrdn’s position as a major owner of rolling stock. We are committed to delivering safe and reliable essential infrastructure to local communities and we appreciate all the parties’ involvements and efforts in successfully reaching financial close.”

Christoph Klaes, Vice President Customer Management at Alstom, said“We are delighted that Rock Rail and abrdn have opted for the Talent 3 Plus. The trains provide a state-of-the-art passenger experience, a high level of comfort and ample capacity for the growing demand for sustainable transport in Baden-Württemberg. Thanks to Alstom’s ETCS solution, the fleet will be well-equipped for the ongoing digitalisation of rail traffic.”

 

Stifel acted as exclusive M&A and Debt advisor on the transaction. The debt package comprises an institutional tranche provided by Aviva, MetLife and Legal & General, and a bank loan provided by Barclays and SEB.

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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:

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:

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