Sargent & Lundy is supporting a proposed financing project between the Department of Energy and one of the nation’s largest public fast-charging providers to significantly expand the U.S. network of charging stations for electric vehicles, promoting their convenience and removing a major impediment to their widescale adoption.
The firm is to provide independent engineering as part of a thorough, due diligence review of the technical and financial viability of EVgo’s plans to deploy approximately 7,500 direct current fast-charging stalls through a conditional commitment for a loan guarantee of up to $1.05 billion from the DOE Loan Programs Office.
Under the financial plan, EVgo will continue to build out its nationwide infrastructure with an emphasis on adding fast-charging stations in areas that serve multifamily housing residents and others who rely primarily on public charging for their needs. EVgo plans to install primarily high-power 350 kilowatt fast chargers capable of charging two EVs at the same time. The company must meet specific technical, environmental, and financial requirements to be assessed and evaluated by Sargent & Lundy for the DOE’s Loans Programs Office to sign off on the loan.
“We know the importance of this project in addressing the lack of access to convenient, reliable, and fast charging infrastructure, which is the primary hurdle to widespread adoption of electric vehicles,” said Sargent & Lundy’s Alex Coologeorgen, the project manager overseeing the independent engineering effort. “Our work will go a long way toward making EV ownership more attractive and help meet the agency’s goal to have EVs make up half of all automotive sales by 2030.”
Sargent & Lundy will provide independent engineering from pre-construction to completion to confirm the project adheres to all DOE requirements while also monitoring supply chain, budget, planning, and scheduling. If the financing is finalized, EVgo plans to complete installation over a five-year period, bringing 7,500 new stalls online by 2030.
“Our team’s deep experience in designing EV infrastructure to meet the needs of schools, ports, and communities throughout the country will give the DOE the assurance it needs to help verify the successful planning and execution of this venture,” said Sargent & Lundy Project Director Patrick Daou.
If finalized, the DOE loan to EVgo will help the agency meet its goal to build a network of 500,000 publicly available EV chargers by 2030. The agency is on track to meet the goal years ahead of schedule with nearly 200,000 public chargers already available. Through the program, the DOE estimates the removal of at least 284,000 tons of carbon dioxide annually, or the equivalent of eliminating more than 60,000 gasoline-powered cars from the road for a year.
