BluSmart, India’s foremost electric ride-hailing service and EV charging infrastructure network, proudly announces a groundbreaking multi-year Power Purchase Agreement (PPA) with Tata Power Trading Company Ltd. (TPTCL), a subsidiary of Tata Power – one of India’s largest integrated power companies, to procure green power. This strategic partnership signifies a significant step towards BluSmart’s commitment to scaling up decarbonized mobility and bolstering India’s net-zero ambitions.
Under the PPA, TPTCL will source 30 MW capacity from Tata Power’s expansive 200 MW Solar PV power plant in Bikaner district, Rajasthan. Leveraging TPTCL’s Category-I Trading License, customers can optimize energy costs and advance sustainability goals.
Enabled by the Green Energy Open Access Rules, this collaboration allows BluSmart to eliminate Scope 2 emissions from its existing EV charging infrastructure and future hubs. As a result, BluSmart becomes the first mobility player in India to transition from zero tailpipe emissions to a zero-emissions company.
BluSmart operates an integrated energy-infrastructure-mobility business, utilizing its born-electric technology stack. With close to 6,000 BluSmart EVs, it has completed over 12 million all-electric trips, covering 400 million electric kilometers and saving 30 million kilograms of CO2 since inception. BluSmart also manages 4,000 EV chargers across 35 superhubs in Delhi NCR and Bangalore, achieving an annual revenue run-rate exceeding USD 55 million and growing at over 100% year-on-year.
Punit Goyal, Co-founder of BluSmart, emphasized the partnership’s significance in addressing global climate change and achieving zero-emissions status. He highlighted BluSmart’s commitment to fully decarbonizing mobility at scale, powered by 100% renewable energy.
Tarun Katiyar, CEO of Tata Power Trading Company Ltd., underscored their commitment to supporting industries in achieving their renewable energy goals through innovative and sustainable solutions.
Striving towards 100% renewable energy is crucial in reaching the 1.5°C goal. This partnership marks a pivotal moment for BluSmart in solidifying its commitment to sustainable transportation and creating a cleaner, greener future.
BluSmart has raised USD 200 million in growth capital to date, including investment from leading global climate fund responsAbility Investments AG. Additionally, BluSmart secured USD 210 million in long-term and sustainable EV asset financing backed by leading Development Financial Institutions (DFIs).
