CESL expands into electric 2 wheelers and 3 wheelers on World Environment Day

New Delhi: Convergence Energy Services Limited (CESL), a CPSE under the Ministry of Power has forged key partnerships on 'World Environment Day 2021' in an effort to further the deployment of electric vehicles in the country. The Agreements and MoUs have been signed with state governments of Goa, and Kerala to procure over 30,000 two- and three-wheelers. This is the first entry to the 2W and 3W segments in the country, with solutions uniquely designed to deliver affordable financial solutions to buyers.

Under the agreements, CESL will also invest in establishing the electric vehicle charging infrastructure and monitor the use of the assets. This customer-oriented approach is designed to deliver good ease of use and better accessibility.

Additionally, CESL has entered into strategic relationships with Bharat Electronics Limited (BEL), TVS Motor Company, JBM Renewables Pvt Ltd., and Fortum India.

Under these agreements, CESL and the private companies will jointly undertake the expansion and adoption of EV ecosystem. This will entail setting up of public charging infrastructure, better technological adoption in charging, explore best practices and business models as also the availability of potential customer segments for demand augmentation. These agreements will also include the development of highway and expressway Charge Point Operators. The feasibility of the park and charge facility to customers across all EV segments will also be explored as part of the project.

CESL's MD and CEO Mahua Acharya said that the mass adoption of EVs is an important step towards achieving India's green growth goals and there is no better day than today, World Environment Day, to announce EESL's many collaborations.

ALSO READ: 

1. World Environment Day: NHPC to have the biggest EVs fleet among PSUs in India

2. Varroc Engineering to manufacture Canada's Delta-Q's EV chargers in India

About CSL

CESL is a newly established subsidiary of state-owned Energy Efficiency Services Limited (EESL), itself a joint venture of public sector companies under the Ministry of Power. Convergence focuses on energy solutions that lie at the confluence of renewable energy, electric mobility, and climate change. It builds upon the decentralised solar development experience in under-served rural communities in India, and over time, using battery energy storage will deliver renewable energy solutions to power agricultural pumps, street lighting, domestic lighting, and cooking appliances in villages. CESL is working to enable battery-powered electric mobility and its infrastructure and design business models to increase the uptake of electric vehicles in India. 

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)