BlackRock Jumps Australia’s Charger Network for $ 100 Million


BlackRock, the world’s largest investment fund, will invest $ 100 million (US $ 72 million) to deploy 5,000 electric vehicle charging stations across Australia.

BlackRock Real Assets will support its expansion by acquiring a stake in Australian electric vehicle (EV) charging provider JOLT Charge and helping Australians build infrastructure to make EVs available faster. increase.

This is BlackRock’s first investment in the EV charging sector in the Asia-Pacific region and is part of the Global Renewable Energy Strategy Fund’s rollout focused on renewable energy infrastructure assets.

Charlie Reid, Managing Director of BlackRock Renewable Power, said the partnership with JOLT has long-term potential growth.

Epoch Times Photo
The signboard of BlackRock Inc in a building in New York on July 16, 2018. (Reuters / Lucas Jackson)

“We believe that electrification of transport plays a vital role in advancing Australia’s energy transition and we look forward to leveraging it through our investment in JOLT,” he said in a statement. rice field.

Doug McNamie, CEO and Founder of JOLT, said Australia is playing an important role in advancing the world towards a zero-emission future.

“We are excited to move forward by powering the roads, addressing range concerns and building the critical infrastructure needed to get more Australians on the steering wheel of EVs. “I have,” he said.

Drivers using JOLT will be charged the first 7 kWh for free and then will be charged for additional use. JOLT also generates revenue from advertising sold at charging stations.

JOLT currently has a charging station in Adelaide and is partnering with Ausgrid to turn an existing streetside kiosk into a station.

New developments begin at Hornsby and Northern Beaches in Sydney.

Globally, EV sales are projected to grow from 3.1 million units in 2020 to 14 million units in 2025, according to Bloomberg New Energy Finance.

EV sales are increasing in Europe, the United States and China, but Australian consumer intake is limited. Part of the reason is the country’s vast geography, small population, lack of charging infrastructure, and the cost of vehicles over regular petrol vehicles.

EVs are also a key pillar of the 2019 federal election campaign for former opposition leader Bill Schoten, and the Australian Labor Party (ALP) will make 50% of all new cars sold domestically electric cars by 2030. I promised an ambitious goal.

The ALP lost the election, and analysts lost the adoption of a progressive policy party that alienated voters, focusing on key resources in Queensland and New South Wales.

Daniel Y. Ten

Posted on