Government of India owned energy service company, Energy Efficiency Services Limited (EESL) on Thursday said it has inked a pact with the New Okhla Industrial Development Authority (NOIDA) to promote electric vehicles and set up around 100 public charging stations in Noida.
"Energy Efficiency Services Ltd (EESL) has signed a memorandum of understanding (MoU) with the New Okhla Industrial Development Authority (NOIDA) to promote electric vehicles (EVs) and install around 100 public charging stations. The MoU will fast-track the adoption of e-mobility in Noida by promoting robust EV infrastructure," EESL said in a statement.
Alok Tandon, chairman of NOIDA, said establishing public charging infrastructure will spur the EV adoption in the city.
"With this partnership with EESL, we envisage the e-mobility movement to gain traction in the city. We are striving to make Noida cleaner, greener and more sustainable," he said.
Ritu Maheshwari, chief executive officer of NOIDA, said installation of public charging stations will accelerate the adoption of EVs in the city.
A robust public charging infrastructure complements the legislative efforts in creating a sustainable EV ecosystem. With increasing penetration of EVs, the local emission of pollutants is also expected to reduce, leading to cleaner air and several public health benefits, she said.
Last week, government has invited proposals from entities that intend to develop EV charging infrastructure in million-plus cities as per the 2011 census; and smart cities as notified by the Ministry of Housing and Urban Affairs, the Ministry of Heavy Industries said.
Solar power systems provider Magenta Power has roped in state-owned Hindustan Petroleum Corporation Ltd (HPCL) as a strategic investor as it bids to accelerate deployment of electric vehicle (EV) chargers across India, according to a top company official.
The company is targeting to set up at least 500 EV charging points across India by the end of this fiscal and has entered into partnerships with various malls, restaurants and institutional entities to set up of the infrastructure.
"We are happy to announce that HPCL is now a strategic investor in our company as well. They have evinced confidence in the work we are doing. They have actually supported us," Magenta Power Managing Director Maxson Lewis told PTI.
While he declined to share financial details of the investment, Lewis said the partnership will enable Magenta Power to closely work with HPCL to set up EV charging solutions not just at the fuel filling stations of the state-owned oil marketing major but also beyond.
When asked if Magenta Power is still looking for more funds to meet its expansion requirements, Lewis replied in the affirmative saying the company's business is asset heavy and capital intensive. "We are looking for more investors at this point of time. There are a couple of discussions going on," he said without elaborating.
Commenting on the company's future expansion plans, Lewis said, "we are invested in setting up the infrastructure... As far as numbers are concerned, we intend to set up at least 500 charging points across India by the end of this fiscal."
At this point of time, he added,"it looks like we are ahead of schedule and looks like we will end up doing more than 500 charging points."
He said 2019, is going to be a year when a lot of the EV ecosystem will fall into place, be it infrastructure, battery optimisation or technology. "And we believe that in 2020 the take off is going to happen," Lewis said, adding "we have taken a collaborative view, with various malls, restaurants institutional entities to support us in setting up of the infrastructure".
Magenta Power has developed three different types of EV chargers for individual (home), institutional and public charging which have been developed keeping the Indian conditions in mind and can support from two and three-wheelers to four wheelers of both old and new generations of EVs, he added.
The company on Thursday introduced its 'Charge Grid Pro' series which is targeted at community charging -- be it offices, malls and residential societies, priced between Rs 32,499 to Rs 39,499.
It comes online connected with a mobile app and command centre allowing EV owners to locate charging stations on map, book charging slots and get charging updates, the company said. PTI RKL
"Energy Efficiency Services Ltd (EESL) has signed a memorandum of understanding (MoU) with the New Okhla Industrial Development Authority (NOIDA) to promote electric vehicles (EVs) and install around 100 public charging stations. The MoU will fast-track the adoption of e-mobility in Noida by promoting robust EV infrastructure," EESL said in a statement.
Alok Tandon, chairman of NOIDA, said establishing public charging infrastructure will spur the EV adoption in the city.
"With this partnership with EESL, we envisage the e-mobility movement to gain traction in the city. We are striving to make Noida cleaner, greener and more sustainable," he said.
Ritu Maheshwari, chief executive officer of NOIDA, said installation of public charging stations will accelerate the adoption of EVs in the city.
A robust public charging infrastructure complements the legislative efforts in creating a sustainable EV ecosystem. With increasing penetration of EVs, the local emission of pollutants is also expected to reduce, leading to cleaner air and several public health benefits, she said.
Last week, government has invited proposals from entities that intend to develop EV charging infrastructure in million-plus cities as per the 2011 census; and smart cities as notified by the Ministry of Housing and Urban Affairs, the Ministry of Heavy Industries said.
Magenta Power ropes in HPCL as strategic investor, eyes 500 EV charging points in FY20
Solar power systems provider Magenta Power has roped in state-owned Hindustan Petroleum Corporation Ltd (HPCL) as a strategic investor as it bids to accelerate deployment of electric vehicle (EV) chargers across India, according to a top company official.
The company is targeting to set up at least 500 EV charging points across India by the end of this fiscal and has entered into partnerships with various malls, restaurants and institutional entities to set up of the infrastructure.
"We are happy to announce that HPCL is now a strategic investor in our company as well. They have evinced confidence in the work we are doing. They have actually supported us," Magenta Power Managing Director Maxson Lewis told PTI.
While he declined to share financial details of the investment, Lewis said the partnership will enable Magenta Power to closely work with HPCL to set up EV charging solutions not just at the fuel filling stations of the state-owned oil marketing major but also beyond.
When asked if Magenta Power is still looking for more funds to meet its expansion requirements, Lewis replied in the affirmative saying the company's business is asset heavy and capital intensive. "We are looking for more investors at this point of time. There are a couple of discussions going on," he said without elaborating.
Commenting on the company's future expansion plans, Lewis said, "we are invested in setting up the infrastructure... As far as numbers are concerned, we intend to set up at least 500 charging points across India by the end of this fiscal."
At this point of time, he added,"it looks like we are ahead of schedule and looks like we will end up doing more than 500 charging points."
He said 2019, is going to be a year when a lot of the EV ecosystem will fall into place, be it infrastructure, battery optimisation or technology. "And we believe that in 2020 the take off is going to happen," Lewis said, adding "we have taken a collaborative view, with various malls, restaurants institutional entities to support us in setting up of the infrastructure".
Magenta Power has developed three different types of EV chargers for individual (home), institutional and public charging which have been developed keeping the Indian conditions in mind and can support from two and three-wheelers to four wheelers of both old and new generations of EVs, he added.
The company on Thursday introduced its 'Charge Grid Pro' series which is targeted at community charging -- be it offices, malls and residential societies, priced between Rs 32,499 to Rs 39,499.
It comes online connected with a mobile app and command centre allowing EV owners to locate charging stations on map, book charging slots and get charging updates, the company said. PTI RKL
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