BluSmart, a pioneering eMobility ride-hailing service and EV charging infrastructure network in India, has taken a monumental step towards sustainability by entering a 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. This collaboration underscores BluSmart’s commitment to decarbonize mobility on a large scale and support India’s ambitions of achieving net-zero emissions.
The PPA entails sourcing 30 MW of green power from Tata Power’s expansive 200 MW Solar PV power plant in Bikaner district, Rajasthan. TPTCL, with its Category-I Trading License, is uniquely positioned in the power trading industry to help customers optimize their energy costs and meet their sustainability objectives.
Leveraging the Green Energy Open Access Rules, this partnership enables BluSmart to eliminate Scope 2 emissions from its existing 1.4 million sq. ft. of EV charging infrastructure and future charging hubs. This move positions BluSmart as the first mobility player in India to transition from zero tailpipe emissions to a completely zero-emissions company.
BluSmart is on a mission to build an integrated energy-infrastructure-mobility business. Its born-electric technology stack currently operates nearly 6,000 BluSmart EVs, completing over 12 million all-electric trips and covering 400 million all-electric kilometers, saving 30 million kilograms of CO2 since its inception. The company also owns and operates 4,000 EV chargers across 35 EV Charging superhubs spanning 1.4 million sq. ft. in Delhi NCR and Bangalore. BluSmart has surpassed USD 55 million in annual revenue run-rate and is experiencing over 100% year-over-year growth.
Punit Goyal, Co-founder of BluSmart, expressed the company’s dedication to combating global climate change through this partnership with Tata Power Trading Company. He highlighted BluSmart’s commitment to decarbonizing mobility at scale and the excitement to power its EV charging infrastructure with 100% clean electricity. Goyal emphasized that BluSmart has already covered 0.4 billion electric kilometers since its launch and is now set to reach 1 billion electric kilometers, all powered by renewable energy.
Tarun Katiyar, CEO of Tata Power Trading Company Ltd., stated, “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.”
The move towards 100% renewable energy is crucial to limit global warming to 1.5°C. BluSmart’s partnership with Tata Power marks a significant milestone in its commitment to sustainable transportation, paving the way for a cleaner, greener future.
BluSmart has raised USD 200 million in growth capital (equity & debt) to date, including investment from responsAbility Investments AG, a leading global climate fund. The company has also secured long-term and sustainable EV asset financing of USD 210 million backed by leading Development Financial Institutions (DFIs).
