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New Delhi. 5,000 passenger electric vehicles are being deployed in Delhi, resulting in carbon dioxide emissions equivalent to one lakh tonnes being saved. Power Finance Corporation Limited (PFC), a leading power sector NBFC and Maharatna company in the country, has sanctioned a loan of Rs 633 crore to Gensol Engineering Limited (GEL) for 5,000 passenger electric vehicles (EVs) and 1,000 goods carrier electric vehicles.
Central Government’s Ministry of Power says that BlueSmart Mobility Pvt. Ltd. (BMPL) will be given on lease passenger electric vehicles for the expansion of its taxi service. The first installment of the loan has been released and the first batch of electric taxis have also hit the roads of Delhi.
Speaking at the flagging off of the first batch of EVs, PFC CMD Ravinder Singh Dhillon said, “The adoption of e-mobility in the country is progressing at a rapid pace, and we believe there is a lot of potential in this sector. Through this, PFC endeavors to contribute towards India’s Nationally Committed Contribution (NDC) target. This will go a long way towards adopting a healthy and sustainable mode of transport in the country.”
These 5,000 four-wheeler passenger electric vehicles (E4Ws), funded by PFC, are being deployed in Delhi and their deployment will result in carbon dioxide (CO2) emissions equivalent to one lakh tonnes being saved. This amount would be equal to the CO2 consumed by more than 5 million fully grown trees in a year. Explores possibilities of providing large scale financing to PFC renewable energy in addition to providing loans to EV (OEM & Fleet Acquisition), Battery, OEM and EV charging facilities as we move towards achieving India’s net zero carbon footprint Has been doing.(IANS)
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Web Title-Rs 633 crore loan sanctioned for 5,000 passenger EVs and 1,000 freight EVs