NRG to invest $100 million to set up electric vehicle charging network in California

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NRG to invest $100 million to set up electric vehicle charging network in California

Greentech Lead America: The California Public Utilities
Commission and NRG Energy have entered into an agreement where NRG will build
an electric vehicle (EV) charging network in California, investing $100 million
over the next four years.

This fee-based charging network will consist of at
least 200 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.

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.

The agreement resolves outstanding litigation arising out
of a long-term electricity contract entered into over a decade ago by a
subsidiary of Dynegy, 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.

This network will be built with private funds on a
sustainable business model that will allow NRG to maintain and grow the network
as EV adoption grows.

“California already leads the way in the development
of an alternative energy transportation sector and, with the price of gasoline
above $4 per gallon and rising, all Americans need to be giving serious
consideration to the increasingly attractive electric vehicle alternative to
what former President Bush called ‘our national addiction to foreign oil,”
Crane adde.

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