New York Green Bank to Provide $60 Million for EV Charging Infrastructure

New York Governor Kathy Hochu on Feb. 10 announced the availability of a $60 million loan from the NY Green Bank  for the development of electric vehicle charging infrastructure in New York City. EV fast-charging provider Revel, will use the funding to expand the city’s fast-charging network by more than three times the current capacity by constructing 267 new charging stations at nine sites. This funding marks the bank’s first EV charging infrastructure transaction, facilitating the expansion of investments in clean transportation.

Revel aims to finish the development of 178 charging stations by next year and complete the remaining 89 stations by 2027. Within the next year, Revel will construct 60 charging stalls in Maspeth, Queens, 44 charging stalls near LaGuardia Airport, which would be the largest fast-charging network adjacent to an international airport, and 24 charging stations at John F. Kennedy (JFK) International Airport. The company will also ensure disadvantaged communities have access to EV charging facilities by building 20 charging stations in the Port Morris area of the Bronx.

With support from the Port Authority of New York and New Jersey, Revel began construction in November at JFK Airport, next to the main rideshare vehicle waiting area. The new funding will enable Revel to complete the construction of the 24 charging stations and start operations in the first quarter of 2025.

Revel’s new charging stations will provide around-the-clock charging for all models and makes of electric vehicles, with each charger having a minimum charging speed of 320 kilowatts (kW) and can charge a vehicle in 15 minutes.

In December 2024, New York announced almost $30 million to install electric vehicle fast chargers across key travel corridors in the state through the National Electric Vehicle Infrastructure, or NEVI, formula funding program. With the new Trump administration cutting back federal funding and support programs for electric vehicles, states such as New York will likely look to state-level funding sources such as NY Green Bank to accelerate EV infrastructure deployment. The bank is a division of the New York State Energy Research and Development Authority.