LPO Announces Conditional Commitment to EVgo to Deploy Nationwide EV Fast Charging Network
Summary
The Biden-Harris administration and DOE are building towards a future where EVs are affordable and accessible in every part of the country.EVgo would deploy the charging stalls across the country, including in Arizona, California, Florida, Georgia, Illinois, Michigan, New Jersey, New York, Pennsylvania, and Texas. The chargers would be compatible with all new EVs capable of fast charging, including those that use NACS and CCS connectors.In support of the Biden-Harris Administrations efforts to deliver good-paying, high-quality job opportunities to communities across the country, this project is expected to create more than 180 external construction jobs and over 550 maintenance and support jobs, as well as roughly 290 roles at EVgo supporting engineering and operations.EVgo is committed to improving customer experience and working with LPO to lift up the charging industry together so that more Americans can access reliable, fast-charging EV infrastructure at convenient locations across the United States and ensure workers, consumers, and communities benefit from the historic transition to a clean energy future. EVgo plans to deploy 7,500 charging stalls, equipped with high-power 350-KW chargers that can serve two cars at once, in a variety of high-traffic locations, including some of the nations leading retail centers and grocery store chains. The chargers funded through this project would also feature Autocharge+, a payment system that allows users to initiate charging without a credit card or phone after they enroll.As part of the Biden-Harris Administrations efforts to build an equitable and inclusive clean energy future, LPO borrowers are expected to develop and ultimately implement a comprehensive Community Benefits Plan (CBP). EVgo intends to install more than 40% of new charging stations in disadvantaged communities, as identified by the Climate and Economic Justice Screening Tool.Projects like the one announced today will benefit from the Alternative Fuel Vehicle Refueling Property Tax Credit, also known as 30C, which was created by the Biden-Harris Administrations Inflation Reduction Act.