Nuvve awarded contract for EV infrastructure development in New Mexico

Development EV Charging announced United States Mar 18, 2025

USD400M

Deal Value

5000 MW

Capacity

development

Stage

Nuvve Holding Corp. has been awarded a contract by the State of New Mexico to provide a turnkey solution to support the state’s zero-emission vehicle adoption and renewable energy goals, with a total accessible market estimated to be approximately $400 million.

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Counterparts (3)

Developer

Nuvve Holding Corp.

company

Nuvve Holding Corp. is a technology company focused on accelerating the electrification of transportation through its intelligent energy platform. They develop solutions for vehicle-to-grid (V2G) technology, enabling electric vehicles to not only draw power from the grid but also return it, providing grid services and optimizing energy use.

Nuvve New Mexico

company

Nuvve New Mexico focuses on vehicle-to-grid (V2G) technology, enabling electric vehicles to not only draw power from the grid but also send power back, supporting grid stability and renewable energy integration. They develop and deploy V2G solutions for various applications, including school buses, fleet vehicles, and public transportation.

Buyer

State of New Mexico

company

The State of New Mexico, through its various agencies and departments, invests in infrastructure projects to support economic development, improve public services, and enhance the quality of life for its residents. These investments span various sectors, including transportation, utilities, and digital infrastructure.

Deal Analysis

Nuvve Holding Corp. has secured a contract with the State of New Mexico to develop EV charging infrastructure, representing a significant step towards the state's zero-emission vehicle adoption and renewable energy targets. Nuvve will provide a turnkey solution, leveraging its expertise in vehicle-to-grid (V2G) technology through its Nuvve New Mexico subsidiary. The total accessible market for this project is estimated at $400 million, indicating a substantial investment in the state's EV infrastructure. This contract positions Nuvve as a key player in New Mexico's electrification efforts. The focus on V2G technology is particularly noteworthy, as it allows electric vehicles to contribute to grid stability and resilience, potentially unlocking new revenue streams and optimizing energy usage. The partnership with the State of New Mexico provides a strong foundation for future expansion and demonstrates the growing demand for comprehensive EV charging solutions.

Contract awarded to Nuvve Holding Corp. by the State of New Mexico.
Total accessible market estimated at $400 million.
Focus on vehicle-to-grid (V2G) technology through Nuvve New Mexico.
Supports New Mexico's zero-emission vehicle adoption and renewable energy goals.

Source Intelligence

KEY DETAILS

Nuvve will announce the first project by the end of Q2 2025. "Nuvve will announce the first project by the end of Q2 2025."

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Deal Size

The contract’s total accessible market for the state’s fleet electrification and its supporting infrastructure is estimated to be approximately $400 million.

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Location

State of New Mexico

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Announcement

March 18, 2025

PARTIES MENTIONED IN SOURCE

Nuvve Holding Corp. developer

"Nuvve Holding Corp. has been awarded a contract by the State of New Mexico to provide a turnkey solution to support the state’s ambitious zero-emission vehicle (ZEV) adoption and renewable energy goals."

State of New Mexico buyer

medium quality Enriched Feb 19, 2026

Timeline

Announced

Mar 18, 2025

Signed

Closed

Get the full picture — timeline, source intelligence, and counterpart analysis.

Source

www.iesna.com

View Full Deal Details

Nuvve awarded contract for EV infrastructure development in New Mexico

Counterparts (3)

Deal Analysis

Source Intelligence

Timeline

Source

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