RInfra arm to set up 15 EV charging stations in Mumbai

Reliance Infrastructure's Mumbai power distribution business Reliance Energy will be introducing 15 electric vehicle charging stations across the city and will be adding more in next three years.

These charging stations will be opened in the next two months.

The entire distribution area in Mumbai is divided into five zones and the company plans to open minimum three electric vehicle charging stations in each of its zones, totalling to 15.

In each of the zones, there will be one slow charging station and two fast charging points.

"Apart from being environment-friendly, electric vehicles have low running cost which is one-sixth of conventional vehicles powered by petrol or diesel. They run up to 120 kilometre on a single charge and provide low-cost travel solution within the city. This year, we are installing smart slow and fast charging stations at strategic locations of Reliance Energy. The operations team will use unique radio frequency-based cards to activate charging stations and recharge these vehicles. These smart chargers provide reliable, secure and cost-efficient solution based on open industry interface technology," said a Reliance Energy spokesperson.

Electric vehicles are being given a thrust by the government as they are environment-friendly, especially for areas with high vehicular congestion that have recorded higher air pollution, thereby affecting health of the locals.

Earlier this month, Reliance Energy had moved Maharashtra Electricity Regulatory Commission (MERC) to transfer its Mumbai power business and the attached licences to Adani Transmission Ltd. This development comes after both the companies signed a definitive binding agreement for 100% stake in the Mumbai power generation, transmission and distribution business.

Both the companies are working towards the deal so that starting April 1, Mumbai suburban areas will receive electricity from the Adani Group.

The total deal value is Rs 13,251 crore. In addition, regulatory assets under approval estimated at Rs 5,000 crore and net working capital on closing estimated at Rs 550 crore will flow directly to Reliance Infrastructure. Thus, the total consideration value has been estimated at Rs 18,800 crore.

Post the deal, the Anil Ambani-promoted infrastructure company would become debt-free, with a cash surplus of up to Rs 3,000 crore.

...& ANALYSIS

• Reliance Energy plans to open minimum three electric vehicle charging stations in each zone
   
• In each of the zones, there will be one slow charging station and two fast charging points