Gov. Kathy Hochul on Monday announced a $60 million transaction to accelerate electric vehicle charging infrastructure deployment across New York City.
The loan is provided by NY Green Bank to Revel, the largest provider of public EV fast-charging in New York City, and will enable Revel to more than triple its current New York City public fast charging network this year. This is NYGB’s first EV charging infrastructure transaction.
“In support of the transition to a clean energy economy, it is critical that we continue to build electric vehicle infrastructure to ease the shift to EV ownership for more New Yorkers, especially those in urban areas,” Hochul said in a statement.
This funding will enable the construction of 267 new charging stalls across nine sites. Construction will be completed by 2027.