The California Public Utilities Commission and NRG Energy have entered into an agreement where NRG will build a comprehensive
electric vehicle (EV) charging network in California, investing
approximately $100 million over the next four years.
This fee-based charging network will consist of at least 200 publicly available fast-charging stations -- installed in the San Francisco Bay area, the San Joaquin Valley, the Los Angeles Basin and San Diego County -- which can add 50 miles of range in less than 15 minutes of charging. Additionally, NRG's EV infrastructure commitment will include the wiring for at least 10,000 individual charging stations located at homes, offices, multifamily communities, schools and hospitals located across the State.
"With this agreement, the people of California will gain a charging infrastructure ready to support their current and future fleet of electric vehicles," said David Crane, NRG's chief executive officer. "And we will be helping the State meet its clean car goals as embodied by its Zero Emission Vehicle mandate."
The agreement, pending approvals and finalization, resolves outstanding litigation arising out of a long-term electricity contract entered into over a decade ago by a subsidiary of Dynegy Inc., then a co-owner with NRG of the portfolio of power generating plants currently owned by NRG in California. NRG assumed full responsibility for resolving this matter in 2006 when NRG acquired Dynegy's 50 percent interest in the assets.
The agreement calls for a network that will bring:
-- A minimum of 200 direct current fast chargers to the state.
-- A minimum of 10,000 parking spaces retrofitted with wiring necessary to charge EVs at multifamily buildings, large worksites and civic sites such as universities and hospitals.
Training and jobs for the installation and maintenance of these charging -- stations in California.
-- Advanced charging services that increase the speed and power of direct current fast charging, store electricity to minimize peak-period demand, and enable EV drivers to support electrical grid reliability with needed energy services through vehicle to grid technology enhancement and implementation.
-- Significant additional investment in California's clean technology economy and hundreds of jobs in construction and EV infrastructure manufacturing, maintenance and management.
-- Approximately $100 million in infrastructure investment over four years, and $20 million in cash to go to the California Public Utility Commission.
Most Popular Stories
- SEO Traffic Lab Celebrate Wins at Digital Marketing Event 'Internet World 2013' in London
- Social Media Initiatives Should Follow Customers' Lead
- Apple CEO: Offshore Units Not a 'Tax Gimmick'
- U.S. Senate Accuses Apple of Large-scale Tax Avoidance
- UTEP Water Recycling Project Wins Venture Titles
- Marketo Makes a Mint in IPO: Stock Shoots Up More than 50 Percent
- Bieber Booed at Billboard Awards
- Crude Oil Up, Gasoline Down
- Austin Startup Compare Metrics Raises $3.5 Million for Expansion
- Why So Many Top 'Car Guys' Are Actually Women