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TeraWatt Infrastructure gets $64 million from New Mexico, planning more charging hubs in the region

January 21, 2024

TeraWatt Infrastructure has been awarded nearly $64 million through a partnership with the New Mexico Department of Transportation to support the rollout of two electric vehicle charging hubs in Southern New Mexico.

In late 2022, TeraWatt announced plans to set up a series of electric vehicle charging stations along Interstate 10. The recent funding of $63.8 million was secured through the U.S. Department of Transportation’s Charging and Fueling Infrastructure (CFI) grant program. This program distributed $623 million to 47 grant recipients, to support the expansion of electric vehicle (EV) charging infrastructure across the U.S.

Two other projects in New Mexico also received CFI grant funding. A community EV charging project in Santa Fe County and the installation of six EV chargers in various locations around the Town of Taos received $3.3 million and $500,000 respectively.

TeraWatt plans to construct one charging station near Lordsburg in Southwest New Mexico, and a second in Vado, just north of El Paso and the New Mexico/Texas border. The $63.8 million funding for these two stations is supplemented by approximately $16 million in investment from TeraWatt, bringing the total funding for the stations to around $80 million.

The company’s decision to build in Lordsburg and Vado was influenced by “pattern matching” around how goods are transported between the Port of Long Beach and El Paso. TeraWatt aims to operate the sites with renewable energy to the extent possible and available. The company is currently finalizing details on the stations’ electricity needs and hopes to have an agreement between it, NMDOT, and the Federal Highway Administration completed by the end of the year.

TeraWatt plans to start building the stations in phases, with the first phase of both New Mexico stations expected to be operational in 2025. The company will build in phases to match medium- and heavy-duty EV adoption and the demand for EV charging.

TeraWatt has not yet publicly announced any contracts for its stations under development in New Mexico. However, the company has previously signed long-term fueling contracts with trucking fleets, such as a deal with PepsiCo in September 2023.

In addition to the construction and operation of the two charging stations, a portion of the $80 million total funding will support job training efforts. TeraWatt plans to collaborate with New Mexico State University’s Research, Creativity and Economic Development Office to support job training and recruitment related to jobs required for the construction and operation of the two New Mexico stations.