Incorporated in October 2019, GreenCell Mobility has been incorporated by Green Growth Equity Fund (GGEF), which is a collaboration between the governments of India and the UK, as part of the Paris agreement. GGEF is funded together by the National Investment and Infrastructure Fund (NIIF) of the Government of India and the Department for International Development (DFID), UK, which have pooled in the US $ 700 million, making this India’s 1st climate-focus fund. Further, British Petroleum also has made a considerable contribution to the coffers.
Mission De-carbonizing Energy
GGEF has been established with a focus on de-carbonization of energy. In alignment with the goal is GreenCell Mobility which is an eMaaS platform focused on developing shared electric mobility.
Ashok Agarwal – MD & CEO, GreenCell Mobility shares: “GreenCell Mobility has acquired a strategic stake in PMI Electro consortium for deploying 350 electric buses across Uttar Pradesh, under FAME– II. Our aim is to create green routes with state-of-the-art 9-meter buses in Uttar Pradesh, where Lucknow and Kanpur will get 100 buses each, Varanasi and Prayagraj will have 50 buses each plying, besides Gorakhpur and Jhansi each receiving 25 buses. These buses will travel for a minimum of 63,000 kms per year, lead to zero tailpipe emissions of CO2 equivalent to roughly 22,000 tons every year, and will create over 1000 jobs in the state.”
PMI Electro Mobility Solutions won the bid for deploying 350 electric buses along with charging infrastructure which has incorporated 2 Special Purpose Vehicle (SPV) companies for this purpose.
Agarwal says: “We have made investments in the SPVs, so PMI Electro is both our OEM partner and a coshareholder. As an eMaaS company, GreenCell is investing in electric mobility as a service provider. It means that we will own, operate and maintain the buses on behalf of the Uttar Pradesh State Road Transportation Corporation. This is a contract with the Directorate of Urban Transport under the Ministry of Transport, Government of Uttar Pradesh.”
Emulating Global Case Studies
GreenCell is seeking knowledge and learning from a country closer home, which has 6000 electric buses as public transport.
Agarwal explains: “We are learning much from them. Discussions are underway for formal collaborations with them to bring in the know-how to manage electric bus fleet. Similarly, we are in touch with lead operators and EV fleet owners in Europe, North America, Australia, China, Korea, Japan to bring their knowledge and experience of their best practices.”
Besides successful case studies being pored over and lessons being learnt to ultimately be applied at home, it is a fact that the challenges that will be faced here will be unique to our country.
Challenges & Outlook
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