GreenCell Gets StanChart Funding For Bus Project

Mobility Outlook Bureau
28 Sep 2023
03:20 PM
1 Min Read

The green loan is for the Surat e-mobility programme.

greencell stanchart green funding mobility outlook

GreenCell Mobility has announced a green financing deal with Standard Chartered Bank for its Surat e-mobility project. This consists of 150 electric buses in Gujarat.

Under the parameters of the FAME II Scheme, the project finance facility will cater to the acquisition, operation, and maintenance of nine-metre fully-built pure AC electric buses on a gross cost contract basis.

Under a 10-year concession deal with the Surat Municipal Corporation, these buses will run within Surat and deliver a consistent revenue profile through a fixed per-kilometre fee structure that mitigates traffic risk.

The project is positioned to have a substantial environmental impact, with an estimated one lakh tonnes of CO2 emission reduction over its lifetime.

Also Read

GreenCell Mobility Signs MoU With Volvo Eicher To Source 1,000 E-buses

Share This Page