Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and Clean Technology Fund (CTF) have provided $55 million in financing to electric bus maker GreenCell Express to build 255 battery-powered electric buses (e-buses).
Additionally, it will get funds totaling $325,000 from the Climate Technology Fund (CTF) and $5.2 million from the Climate Innovation and Development Fund run by Goldman Sachs and Bloomberg (CIDF). The decarbonization of 100 electric buses using solar power and battery energy storage devices will be partially funded by this CIDF grant, according to the announcement.
In the states of Maharashtra, Gujarat, Uttar Pradesh, New Delhi, and Madhya Pradesh, GreenCell is currently implementing 1,400 e-bus projects, of which over 600 are currently in operation across 21 cities. In addition, it intends to carry 5 million passengers annually on 56 intercity routes in India, improving passenger safety with new security measures including cameras, tracking, and panic buttons connected to command controllers for quick action.
