Fourth Partner Energy Forays into EV Charging Infra via JV with Lithium Urban

Fourth Partner Energy, which is backed by TPG’s The Rise Fund, on Tuesday (March 17)  marked its entry into the electric vehicle (EV) charging Infrastructure space through setting up joint venture (JV) with commercial EV fleet operator Lithium Urban Technologies.

Through this 50:50 JV partnership i.e. ‘Shuchi Anant Virya’, the two companies will build EV charging infrastructure across the country.

This JV has unveiled its first solar-powered EV charging hub in Gurugram, which is capable of charging 25-30 vehicles simultaneously. This facility will be used initially to charge Lithium’s fleet to Wipro and American Express in Gurugram.

Besides, the JV has also commissioned its second charging facility in Pune, Maharashtra.

As per the JV terms, Hyderabad-headquartered Fourth Partner Energy will provide a mix of onsite & offsite solar solutions and renewable energy trading options to power Lithium’s fleet, while the latter will be the anchor client providing base demand across hubs.

Commenting on the development, Vivek Subramanian, Co-founder & ED at Fourth Partner Energy, said “the global transition to electric mobility can be considered truly green only when the increased demand for energy is met by clean, renewable sources – Shuchi was formed to address this opportunity.”

“Partnering with Lithium helps both companies better leverage our strengths in providing sustainable solutions and cost benefits to India’s leading corporate houses,” he added.

India is home to seven out of ten most polluted cities in the world, and the government is hoping that better public transportation and adoption of EVs will significantly help reduce emission levels. Under the FAME scheme, the government is targeting 30 percent e-mobility by 2030.

“Businesses are becoming increasingly conscious of better environmental practices. Solar-powered EV charging infrastructure will not just close the loop on procuring clean energy for EVs but will also result in improved cost efficiency. The domestic EV market is expected to grow by 35 percent annually till 2026 and fleet operators will be the first to embrace this change. Lithium is readying India for this future of shared, connected, electric mobility,” said Vikash Mishra, Head of External Relations of Lithium Urban Technologies.

On the Pune facility, Vinayak Kathare, Business Head at Shuchi, said that “this Pune facility near Kharadi is one of India’s largest EV charging hubs for four-wheelers; and has the capacity to charge over 40 vehicles at a time. The plan for FY 21 is for Shuchi to add a couple of more charging hubs across Delhi-NCR, and at least one each in Hyderabad, Bengaluru and Mumbai.”