Distributed Energy Resources, GHG Emissions - January 12, 2022
West Virginia Partners to Add Electric School Buses
West Virginia Governor Jim Justice announced that the state has entered into a lease/purchase agreement with GreenPower Motor Company Inc. for a facility in South Charleston, West Virginia to manufacture zero-emission, all-electric school buses.
As part of the agreement, the state of West Virginia has committed to purchase a minimum of $15 million of GreenPower vehicles produced at the facility.
GreenPower will acquire properties located in South Charleston, West Virginia totaling 9.5 acres and an 80,000 square foot building. The terms of the lease require no cash up front and monthly lease payments begin nine months after production begins. All lease payments will be applied in full to the purchase of the property. GreenPower plans to begin manufacturing zero-emission, all-electric school buses in the facility by the second half of 2022.
The state will provide up to $3.5 million in employment incentive payments to GreenPower for jobs created in the state as production increases over time. Title to the properties will be transferred to GreenPower once total lease and incentive payments reach $6.7 million.
"I would like to be the first to welcome GreenPower to West Virginia with open arms. We're thrilled that you've chosen to live and work in the paradise that our state offers," said West Virginia Governor Jim Justice in a statement. "West Virginia continues to be the best place to do business. I'm excited to help support GreenPower on this important project and for what the future holds for their great company and our great state."