Fourth Partner Energy, Hyderabad-based solar energy company and Lithium Urban Technologies, an electric vehicle (EV) fleet operator, have entered into a partnership to build solar-powered charging infrastructure across the country.
Each of the companies has committed to around Rs 10 crore towards the JV, which will be deployed over the next two to three years. The plan is to establish 10-15 charging hubs across metros such as Hyderabad, Bengaluru and Mumbai over the next three years.
The joint venture, Shuchi Anant Virya, has launched its first EV charging hub in Gurugram, Haryana, which can charge 25-30 cars. It is a 50:50 JV with an equity capital of Rs 20 crore.
Fourth Partner will be responsible for procurement of power at the lowest possible cost and maximising the contribution of renewables in the supply for EV charging through onsite and offsite solar, along with renewable energy trading options. On the other hand, Lithium Urban Technologies will be responsible for providing base demand for the JV.
The second facility in Pune has been commissioned with a capacity to charge 40 cars simultaneously. The JV will also have facilities to charge higher-end passenger vehicles as well as electric buses.
The Gurugram facility will be used initially to charge fleet to Wipro and American Express.