PFC to Lend Rs 275 Cr to Deploy 350 E-Buses in UP

India’s leading NBFC in the power sector and a Maharatna company PFC has signed an agreement with GreenCell Mobility to lend Rs 275 crore for the deployment of 350 electric buses (e-buses) in the state of Uttar Pradesh (UP).
 
GreenCell Mobility is an e-mobility platform supported by the Governments of India and the United Kingdom to boost the adoption of electric vehicles (EVs) in the country.
 
The buses will be deployed across 9 key cities of the state including Agra, Meerut, Aligarh, Bareilly, Ghaziabad, Mathura etc.
 
The Government of India has launched FAME-II scheme with an allocation of Rs 3,500 crore for the promotion of the adoption of electric buses.

Electric buses offer sustainable mobility solutions by tackling challenges of poor air quality and also reducing the carbon footprints of the nation.