The Indian Renewable Energy Development Agency (IREDA), a public sector renewable energy lender, has approved a loan of Rs 268 crore to ride-hailing operator BluSmart Mobility for the acquisition of 3,000 electric automobiles. IREDA has disbursed the first instalment of the loan in the amount of Rs 35.70.
“This is our first major investment in this space and towards making India a cleaner and greener country. IREDA is looking forward to financing more EV (electric vehicles) projects to speed up the progress of moving transportation to clean sources in the country,” said Pradip Kumar Das, CMD, IREDA.
The financing to start-up BluSmart, according to IREDA, is part of the company’s effort to assist cut emissions in the National Capital Region (NCR).
