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.
This story is from the March 2021 edition of MOTORINDIA.
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This story is from the March 2021 edition of MOTORINDIA.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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