GreenCell Mobility Invests Strategically in Renewable Power for NueGo Electric Buses

GreenCell Mobility Invests Strategically in Renewable Power for NueGo Electric Buses

Business |Investment

GreenCell Express, a subsidiary of GreenCell NUEGO Mobility, pioneers sustainability in the electric vehicle sector by entering a power purchase agreement and investing in a 1 MW Wind Solar Hybrid captive power plant, reducing CO2 emissions by 38,000 tons over the lifetime of buses.

824 views | Date: December 19, 2023

Mumbai- GREENCELL MOBILITY PRIVATE LIMITED., an e-mobility solution provider in the electric vehicle (EV) industry, announced today, via its subsidiary GreenCell Express, a strategic move toward sustainable power solutions. The subsidiary, operating under the renowned "NueGo" brand of inter-city electric buses, has formally entered into a power purchase agreement and made a significant equity investment in a cutting-edge 1 MW Wind Solar Hybrid captive power plant in Ratlam, Madhya Pradesh. This facility boasts an impressive annual generation capacity of 4.6 million units.

The move is projected to result in a substantial reduction of approximately 38,000 tons of CO2 emissions over the lifespan of the buses. This strategic endeavor aligns seamlessly with GreenCell's overarching objective of evolving into a Net Zero company, as stated in a recent media release.

GreenCell Mobility expressed their commitment to shaping the future rather than merely adapting to it. The decision to power their electric vehicles through renewable energy sources in Madhya Pradesh is framed not just as an innovation but as a dedicated pledge to the environment and the well-being of future generations. GreenCell Mobility aims to set a precedent within the industry, showcasing that sustainable practices can coexist harmoniously with business expansion.

Looking ahead, GreenCell Mobility is actively engaging in similar agreements in other states where it operates, aiming for a complete transition from conventional grid power to renewable energy sources. In tandem with this initiative, the company is exploring the implementation of Battery Energy Storage solutions to ensure that its operations remain entirely green. Collaborating closely with both central and state stakeholders, GreenCell is dedicated to advocating for policy changes that encourage wider adoption of renewable energy for e-Buses, as outlined in their media release.