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BluSmart signs PPA with Tata Power’s arm to source green power

Wednesday, 21 Feb 2024
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EV charging infrastructure network BluSmart has signed a multi-year power purchase agreement (PPA) with Tata Power Trading Company (TPTCL), a subsidiary of Tata Power, to source green power.

Around 30 MW capacity will be sourced by TPTCL from Tata Power's 200 MW solar power plant in Bikaner, Rajasthan and supplied to BluSmart. This partnership with TPTCL will allow BluSmart to eliminate Scope-2 emissions from its existing 1.4 million sq. ft. of electric vehicle (EV) charging infrastructure and future charging hubs.

With this, BluSmart emerges as the first mobility player in the country to transition from zero tailpipe emissions to a zero-emissions company. Apart from around 6,000 EVs, the company owns and operates 4,000 EV chargers across its 35 EV charging superhubs spread across Delhi-NCR and Bangalore. TPTCL is committed to supporting multiple industries in achieving their renewable energy (RE) goals.

Earlier this year, BluSmart announced that it had raised USD 200 million in growth capital. It included investment by Switzerland-based global climate fund responsAbility Investments AG. The company also secured long-term and sustainable EV asset financing of USD 210 million backed by leading Development Financial Institutions (DFIs).

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