A second round of zero-interest loans to encourage private sector investment in public electric vehicle charging infrastructure has opened, as the Government accelerates its plan to deliver 10,000 chargers by 2030.
Transport Minister, Chris Bishop said National Infrastructure Funding and Financing (NIFFCo) will shortly release a Request for Proposals (RFP) for the second round of concessionary loans for public EV charging infrastructure, with around $21 million available for charge point operators seeking co-investment to deliver portfolios of public charging sites across New Zealand.
Applications will be assessed through an open procurement process focused on delivering the greatest value for money and the strongest contribution to the growth of New Zealand’s public charging network.
The second funding round builds on the successful first round of concessionary loans announced in March, which will deliver 2,574 new charge points through partnerships with ChargeNet and Meridian Energy.
“Round one demonstrated strong market demand for the programme and showed concessionary loans can successfully unlock significant private sector investment,” Mr Bishop says.
“The projects already underway will more than double New Zealand’s public charging network and represent a major step towards achieving our long-term infrastructure goals. By 2030, our target is to have 10,000 public charge points across the country, providing roughly one charger for every 40 EVs.”
Energy Minister, Simeon Brown says rolling out EV chargers will reduce range anxiety for EV drivers.
“New Zealanders will make the best choices for their own circumstances, as we are seeing with the greater uptake of EVs without unnecessary subsidies from taxpayers,” he said.
“With actions like loans for public EV chargers, the Government is helping provide the infrastructure and settings to broaden those choices.
“The additional funding will accelerate charger deployment and give the market greater confidence to invest.
“Concessionary loans lower the cost of capital and help overcome the challenge that charging infrastructure often needs to be built before demand is fully established.
“By partnering with the private sector, we’re bringing forward investment, getting more chargers into communities sooner, and ensuring taxpayers receive good value for money.”
NIFFCo will release the RFP on Monday 10 August.
