BluSmart, TATA Power Sign 30 MW PPA To Procure Green Energy

BluSmart, TATA Power Sign 30 MW PPA To Procure Green Energy

BluSmart, an eMobility ride-hailing service and electric vehicle (EV) charging infrastructure network provider, announced a multi-year Power Purchase Agreement (PPA) with Tata Power Trading Company Limited (TPTCL) a wholly owned subsidiary of Tata Power.  The PPA will allow BluSmart to source green power from TPTCL.

This collaboration marks a significant step towards BluSmart’s commitment to decarbonize mobility at scale and bolster India’s net-zero ambitions. Under the PPA, 30 MW capacity will be sourced by TPTCL from the Company’s 200 MW Solar PV power plant in Bikaner district, Rajasthan. TPTCL is uniquely positioned in the power trading industry with the Category-I Trading License enabling customers to optimize their energy costs and facilitate their sustainability goals.

Enabled by the recently enacted Green Energy Open Access Rules, this partnership with TPTCL allows BluSmart to eliminate Scope 2 emissions from its existing 1.4 million sq. ft. of EV charging infrastructure and future charging hubs. With this, BluSmart claims to emerge as the first mobility player in India to transition from zero tailpipe emissions to a zero-emissions company. BluSmart claims to build an integrated energy – infrastructure – mobility business and its born-electric technology stack, built indigenously, operates close to 6,000 BluSmart EVs. It has completed over 12 million all-electric trips, having covered 400 million all-electric km, saving ~ 28,000 metric tons of CO2 since inception.

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BluSmart also owns and operates 4,000 EV chargers across its 35 EV Charging superhubs spread across 1.4 million sq. ft. in densely populated cities of Delhi NCR and Bangalore. BluSmart crossed 55 million USD in the annual revenue run-rate and is growing at more than 100% Year-Over-Year (YOY). Commenting on the partnership with Tata Power Trading Company Limited,

Punit Goyal, Co-founder, BluSmart said “While BluSmart operates an all-electric e-Mobility ride-hailing fleet which contributes to zero tailpipe emissions, with this significant partnership with Tata Power Trading Company, it bears testament to its commitment to address the impact of global climate change and achieving the ‘zero-emissions’ status. We are paving the path to fully decarbonize mobility at scale and are excited to further cement our alliance with Tata Power as we power our EV charging infrastructure with 100% clean electricity. BluSmart has already covered 0.4 billion electric km since launch till date, and we are excited that the journey to 1 billion electric km will now be powered by 100% renewable energy (RE)”.

“Tata Power Trading Company has been at the forefront of promoting clean and alternative energy adoption through customized offerings. Our partnership with BluSmart can help them decarbonise mobility in the country. We are committed to supporting industries to achieve their renewable energy (RE) Goals, through our sustainable, innovative, and affordable energy solutions.” said, Tarun Katiyar, Chief Executive Officer (CEO), of Tata Power Trading Company Limited Striving towards 100% renewable energy is vital to keep the 1.5°C goal within reach. With this partnership, the company is embarking on a new phase to further solidify its commitment to sustainable transportation and paving the way for a cleaner, greener future for all. BluSmart has raised USD 200 Mn in growth capital (equity & debt) to date which also includes investment by one of the leading global climate funds, responsAbility Investments AG. BluSmart has also secured long-term and sustainable EV asset financing of USD 210 million backed by leading Development Financial Institutions (DFIs).

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