The company is actively seeking comparable agreements in other states where it has operations.
Eversource Capital’s venture, GreenCell Mobility, recently disclosed a power purchase agreement complemented by a strategic equity investment through its subsidiary GreenCell Express in a wind-solar hybrid captive power plant in Ratlam, Madhya Pradesh. This 1 MW plant is notable for its impressive annual generation capacity of 4.6 million units. Under the “NueGo” brand, GreenCell Express manages a fleet of inter-city electric buses. This recent investment signifies a substantial step towards powering these buses primarily with renewable energy in the state, which is anticipated to result in significant CO2 reductions amounting to 38 thousand metric tonnes over the buses’ lifespan.
Devndra Chawla, the CEO and MD of GreenCell Mobility, commented on this development, emphasizing the company’s commitment to not only adapting to the future but actively shaping it. He highlighted that utilizing renewable energy sources to power electric vehicles (EVs) in Madhya Pradesh is a pioneering move, signifying both innovation and a pledge to sustainable future practices. Chawla pointed out that this approach showcases how sustainable practices can be integrated with business expansion.
Further, GreenCell Mobility is dedicated to pursuing similar agreements in other operational states, aligning with its vision to transition entirely from grid power to renewable energy sources. The company is also exploring the implementation of battery energy storage systems to ensure a completely green operational process. GreenCell is actively collaborating with central and state authorities to encourage policy reforms that support the increased use of renewable energy in powering electric buses. Through these efforts, the company aims to reinforce its position as a leader in sustainable practices within the industry.
