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EVgo Freedom Station Sites Will Begin Showing Up At California Retail Locations In Early 2013 Allowing Drivers To Add 50 Miles Of Range In 15 Minutes. (Photo: Business Wire)

Stocks in this article: NRG

NRG Energy (NYSE: NRG), through its eVgo subsidiary, has been cleared to provide Californians with the nation’s most comprehensive electric vehicle (EV) charging network including fast chargers that allow drivers to add 50 miles of range in 15 minutes at premier retail environments. With today’s Federal Energy Regulatory Commission (FERC) approval of the agreement between the California Public Utilities Commission and NRG, eVgo can now begin work on a network that will raise the bar on convenience for EV drivers.

eVgo Freedom Station sites will begin showing up at California retail locations in early 2013 allowi ...

eVgo Freedom Station sites will begin showing up at California retail locations in early 2013 allowing drivers to add 50 miles of range in 15 minutes. (Photo: Business Wire)

As part of its agreement with the Commission, NRG is investing approximately $100 million over the next four years in the eVgo California charging network, generating in the process more than 1,500 jobs and a total economic benefit of more than $185 million from employment and procurement of goods and services.

“This approval enables one of the most visionary "public-private partnerships" ever conceived to move forward; enabling NRG to begin bringing the benefits of a comprehensive EV fast charging network to the largest population centers in California,” said David Crane, President and CEO of NRG Energy. “This network will open the door for more California drivers to enjoy the enormous benefits of EV ownership.”

The fee-based eVgo charging network will consist of at least 200 publicly available fast-charging stations conveniently located at premier retail locations in the San Francisco Bay area, the San Joaquin Valley, the Los Angeles Basin and San Diego County.

As part of the agreement, NRG will also facilitate EV ownership for Californians who live in apartment buildings and other multi-unit housing complexes and for Californians hoping to commute to work in an electric vehicle through its "make ready" commitment. eVgo will install the wiring (make readies) for at least 10,000 individual charging stations located at offices, multifamily communities, schools and hospitals.

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