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Clean Transport

Published on June 29th, 2016 | by James Ayre


NRG Offloads EVgo Network Of Fast-Charging Stations To Vision Ridge Partners

June 29th, 2016 by  

eVgo-SM-CA-L2A Colorado-based investment firm known as Vision Ridge Partners has acquired the EVgo electric vehicle fast-charging station network from the utility company NRG, according to recent reports.

While the pricing of the acquisition hasn’t been publicly disclosed, one would assume that it’s substantial — considering that the network consists of 665 EV fast chargers, spread across 50 different US metropolitan areas.

Considering the extremely convoluted history behind the formation of NRG, the move is particularly interesting. Some of those reading this may not remember, but following the Enron scandal back in the early 2000s, NRG (the precursor of the company, actually, with a different name) was actually required by the $120 million settlement reached with the California Public Utilities Commission to allocate $100 million towards the creation of an electric vehicle (EV) charging station network.

Autoblog continues, noting that, with EVgo sold, “the charging network of CHAdeMO and SAE Combo stations will further be expanded nationwide.” Going on: “Aside from its affiliation with NRG, EVgo has also worked with automakers at developing charging stations across the US. Late last year, it was announced that EVgo and BMW would collaborate on adding fast combo charging to 24 cities within the ensuing two years. EVgo has also worked with Nissan on its ‘No Charge to Charge’ program that offers free fast charging for those who take out leases on the Leaf electric vehicle. That program, which was introduced at 2014’s New York Auto Show, offered those free charges for as long as two years and included EVgo among a group of networks that also included ChargePoint, Blink and AeroVironment.”

With the change in ownership it’ll be interesting to see what the network’s expansion plans look like for the next few years.

Photo: NRG EVgo charging station in Southern California by Kyle Field | CleanTechnica

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About the Author

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy. You can follow his work on Google+.

  • Michael B

    This doesn’t portend well… an investment firm running a charging network? Count me as a skeptic, but I’ll be happy to be proven wrong.

  • J.H.

    Indeed, this is a very big deal, and it is in my back yard.

  • darth

    Let’s hope they can lower the prices for DCFC to be more reasonable

    • It’s quite reasonable in DFW – 10 cents per minute with a $15 flat monthly membership fee. I understand it’s higher elsewhere, though.

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