Out-Law News 1 min. read
14 Feb 2022, 9:42 am
New South Wales (NSW) has released its A$35 million (US$25m) first round grant to build ultra-fast electric vehicle (EV) chargers across the state.
There are two stages in application for the grant. The first stage will assess each applicant’s eligibility and their proposed sites for the charging stations, while the second will include a detailed application process. In order to be eligible, applicants must fund at least half of the total project capital cost and can only apply for a maximum of A$15m in funding across multiple locations in round one.
Grants will be prioritised for projects which can prove value for money and merit, including building regional charging stations, innovation in station design and diversity of proposed locations. Charging point operators considering applying should however be aware that grants issued in round one will only be issued to locations identified as “green zones” in the NSW Electric Vehicle Fast Charging Master Plan.
Leanne Olden of Pinsent Masons said: “With the slow uptake of electrical vehicles in Australia, the provision of a fast-charging network in key areas of NSW is expected to help boost the industry in the state by addressing key consumer concerns around the range of electric vehicles.”
Applications for the first round of funding opened on 4 February and will close in the middle of June 2022.
Treasurer Matt Kean said the first round grant will attract A$160m private investment. Construction is expected to start in the second half of the year and all the charging station construction work approved in the first round will be finished in two years.
The scheme is part of the government’s A$171m EV co-funding plan with private operators launched in 2021 to ensure everyone in the state “has access to charging infrastructure”.
Among the total funding, A$131m will go towards an ultra-fast charging network by the state’s major highways, A$20m will be invested in charging facilities at tourist destinations, and A$20m is planned to be used for charging infrastructure at public transport hubs.