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JBM Renewables, part of the $.2.2 bn global Indian conglomerate JBM Group today signed an MoU with Convergence Energy Services Limited (CESL), a wholly owned
subsidiary of Energy Efficiency Services Limited (EESL) towards setting up an Integrated Ecosystem for Charging of Electric Vehicles. JBM and CESL will jointly bring in synergies with an intent of driving the implementation of Electric Vehicle Charging Infrastructure (EVCI) across India.
Under the scope of this MoU, signed for a period of 3 years, both JBM Renewables and CESL will jointly undertake setting up of public charging infrastructure pan India for electric vehicles comprising of investment, installation, commissioning, operation and maintenance. Further, it will also undertake optimizing the current charging stations and exploring avenues for second use applications of EV batteries for storage and grid management purposes.
As a pilot project, JBM and CESL will work towards creating an integrated EV ecosystem platform comprising of renewable energy, energy storage systems and EV charging solutions. For demand generation, CESL will explore business models and availability of potential customer segments.
Commenting on the occasion, Ms. Mahua Acharya, CEO & MD, Convergence Energy Services Limited (CESL), said “Increasing electric vehicles on Indian roads needs an ecosystem way of thinking and to that extent, I am so pleased to see JBM carry that vision. This MoU is an exciting development because it brings together like minded entities to work together entrepreneurially to help build this out. JBM is an industry stalwart, and we look forward to establishing a deep and lasting relationship”.
Mr. Nishant Arya, Vice Chairman, JBM Group, said, “The automotive industry is transforming radically with disruptive technologies taking the world’s mobility ecosystem towards self-sustainable products & solutions. As a group, we have seamlessly been able to synergise and align our various businesses to this ongoing transformation. Our eco-friendly electric buses, EV charging solutions, battery manufacturing capabilities and renewable energy offerings are manifestations of this change. It is a pleasure to partner with a forward-thinking organization like CESL to complement our skillsets and serve the country”.
The project will also include establishment of various aspects of an electric vehicle ecosystem in Goa, in line with Goa’s ambitions to go green. The association will explore the feasibility of integrating EV charging and electric buses for maximizing capacity utilization of chargers and making them a profitable business. The scope of collaboration also includes working together for charging stations on highways and any other areas in the electric vehicles market that becomes necessary.