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DOE Loan Programs Office – $1B to Evgo for Charging Points
The Department of Energy’s (DOE) Loan Programs Office (LPO) announced Thursday a conditional commitment to EVgo Swift Borrower LLC (EVgo) for a loan guarantee of up to $1.05 billion to expand the public electric vehicle (EV) charging infrastructure. The loan guarantee, if finalized, will support EVgo’s deployment of ~7500 charging ports at ~1100 charging stations across the United States. The first deployments will include high-power 350kW fast chargers capable of charging two EVs simultaneously. EVgo plans to continue installing power sharing equipment over the 5-year deployment timeline.
“The Biden-Harris administration and DOE are building towards a future where EVs are affordable and accessible in every part of the country,” LPO said in a detailed release. Continue reading →