EVgo (EVGO) announced the closing of its $1.25B guaranteed loan facility from the Department of Energy Loan Programs Office under its Title 17 Clean Energy Financing Program to support EVgo’s forthcoming efforts to build public charging infrastructure for electric vehicles with the construction of 7,500 new fast charging stalls nationwide. “This buildout will bring EVgo’s total owned and operated network to at least 10,000 fast charging stalls, allowing the Company to more than triple its network footprint by 2029,” the company said in a statement. EVgo estimates this project buildout will create more than 1,000 jobs in the U.S., over 700 of which will be contracted resources engaged by the company encompassing roles in construction, engineering, development, and operations and maintenance.
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