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Business News/ Brand Stories / BluSmart Collaborates with Tata Power to Source Green Power; Goes 100% Renewable to Decarbonise Mobility at Scale
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BluSmart Collaborates with Tata Power to Source Green Power; Goes 100% Renewable to Decarbonise Mobility at Scale

This strategic collaboration represents a significant milestone in BluSmart's dedication to scaling decarbonisation efforts in mobility and supporting India's aspirations for achieving net-zero emissions

The iconic BluSmart EVs being charged at one of the large-scale BluSmart EV Charging Superhubs in BangalorePremium
The iconic BluSmart EVs being charged at one of the large-scale BluSmart EV Charging Superhubs in Bangalore

Gurugram, 23rd February, 2024: With the threat of climate change increasing by the day, green power has become the need of the hour. Across various industries, there is a growing recognition of the importance of transitioning to renewable energy sources to mitigate environmental impact and work towards achieving net-zero emissions goals.

To bring India a step closer to procuring green power, BluSmart, India’s largest born-electric, fully integrated eMobility ride-hailing services and EV charging infrastructure network, proudly announces a multi-year Power Purchase Agreement (PPA) with Tata Power Trading Company Ltd. (TPTCL), a wholly-owned subsidiary ofTata Power, one of India's largest integrated power companies. This strategic collaboration represents a significant milestone in BluSmart's dedication to scaling decarbonisation efforts in mobility and supporting India's aspirations for achieving net-zero emissions.

Punit Goyal, Co-founder, BluSmart with Tarun Katiyar, CEO, Tata Power Trading Company Ltd. at the PPA signing ceremony.
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Punit Goyal, Co-founder, BluSmart with Tarun Katiyar, CEO, Tata Power Trading Company Ltd. at the PPA signing ceremony.

Under this PPA, TPTCL will source a capacity of 30 MW from Tata Power's expansive 200 MW Solar PV power plant in the Bikaner district of Rajasthan. Leveraging its Category-I Trading License in the power trading industry, TPTCL enables customers to optimise energy costs and advance their sustainability objectives.

Empowered by the Green Energy Open Access Rules, this partnership with TPTCL enables BluSmart to fully eliminate Scope 2 emissions from its existing 1.4 million sq. ft. of EV charging infrastructure and future charging hubs. This achievement positions BluSmart as the first mobility player in India to transition from zero tailpipe emissions to a zero-emissions company.

BluSmart is establishing an integrated energy-infrastructure-mobility business, supported by its indigenous born-electric technology stack. Currently, BluSmart operates nearly 6,000 EVs, completing over 12 million all-electric trips and covering 400 million all-electric kilometers. Additionally, BluSmart operates 4,000 EV chargers across its 35 EV Charging superhubs, spread across 1.4 million sq. ft. in densely populated megacities like Delhi-NCR and Bangalore. With an annual revenue run-rate surpassing USD 55 million and a growth rate exceeding 100% year-on-year, BluSmart is poised for continued expansion.

Commenting on the partnership with Tata Power Trading Company, Punit Goyal, Co-Founder, BluSmart “While BluSmart operates an all-electric eMobility 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 achieve ‘zero-emissions’ status. We are paving the path to fully decarbonise 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 kms since launch to date, and we are excited that the journey to 1 billion electric kms will now be powered by 100% renewable energy."

“Tata Power Trading Company has been at the forefront of promoting clean and alternative energy adoption through customised offerings. Our partnership with BluSmart will help them in decarbonising mobility in the country. We are committed to supporting multiple industries in achieving their RE Goals through our sustainable, innovative, and affordable energy solutions, " said Tarun Katiyar, CEO, Tata Power Trading Company Ltd.

BluSmart has raised USD 200 million in growth capital (equity & debt) to date, including investment by responsAbility Investments AG, a leading global climate fund. Additionally, BluSmart has secured long-term and sustainable EV asset financing totaling USD 210 million from prominent Development Financial Institutions (DFIs).

Striving towards 100% renewable energy is vital to achieving the 1.5°C goal. With this partnership, BluSmart is embarking on a new phase, further solidifying its commitment to sustainable transportation and paving the way for a cleaner, greener future for all.

Disclaimer: This article has been produced on behalf of the brand by HT Brand Studio.

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Published: 26 Feb 2024, 10:40 AM IST
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