BluSmart has announced a multi-year Power Purchase Agreement (PPA) with Tata Power Trading Company Ltd (TPTCL), one of India's largest integrated power companies. The PPA will see BluSmart sourcing 30 MW of green power from Tata Power's expansive 200 MW Solar PV power plant in Bikaner district, Rajasthan. TPTCL, armed with a Category-I Trading License, empowers customers to optimise energy costs and pursue sustainability goals, aligning perfectly with BluSmart's vision for a cleaner future. BluSmart thus becomes the first mobility player in India to transition from zero tailpipe emissions to a zero-emissions company, setting a benchmark for environmental stewardship in the industry.
BluSmart's integrated energy-infrastructure-mobility business model, coupled with its indigenous born-electric technology stack, currently operates nearly 6,000 EVs and has completed over 12 million all-electric trips, covering 400 million all-electric kilometers and saving 30 million kilograms of CO2 emissions since its inception. The company also boasts ownership and operation of 4,000 EV chargers across 35 EV Charging superhubs spread over 1.4 million sq. ft. in densely populated megacities of Delhi NCR and Bangalore. With an annual revenue run-rate exceeding USD 55 million and a growth rate surpassing 100% year-on-year, BluSmart stands as a formidable force in the electric mobility landscape.
Punit Goyal, Co-founder of BluSmart, expressed pride in the partnership with Tata Power Trading Company, emphasising BluSmart's commitment to combatting global climate change and achieving zero-emissions status. He highlighted the pivotal role of clean energy in fully decarbonising mobility at scale and expressed excitement about powering BluSmart's EV charging infrastructure with 100% renewable electricity.
Tarun Katiyar, CEO of Tata Power Trading Company Ltd, underscored Tata Power's dedication to promoting clean and alternative energy adoption through tailored offerings, affirming their support for BluSmart's mission to decarbonise mobility in India.
With the global imperative to limit global warming to 1.5°C, BluSmart's stride towards 100% renewable energy marks a significant contribution to sustainable transportation, paving the way for a cleaner, greener future for all. Having raised USD 200 million in growth capital, including investment from leading climate funds like responsAbility Investments AG, and securing sustainable EV asset financing of USD 210 million from prominent Development Financial Institutions (DFIs), BluSmart is poised to drive further innovation and impact in the realm of green mobility.
Also Read