Olectra bags Rs. 500-cr order for 300 electric buses from TSRTC

HYDERABAD: Olectra Greentech Limited (Olectra) has bagged an order from TSRTC to supply 300 electric buses. The value of this order is approximately Rs. 500 crores. Evey Trans Private Limited (EVEY), a group company of Megha Engineering & Infrastructures Ltd (MEIL), has received the Letter of Award (LoA) from TSRTC. The order for supplying 300 electric buses under the FAME-II scheme of the Government of India.

These 300 electric buses will be supplied on a Gross Cost Contract (GCC) /OPEX model basis for 12 years. EVEY shall procure these buses from Olectra Greentech Limited, which will be delivered over a period of 20 months. During the contract period, Olectra will undertake the maintenance of these buses. This transaction between Olectra and EVEY is to be considered a related-party transaction and shall be on an arm's length basis.

Commenting on this occasion, KV Pradeep, Chairman and Managing Director, Olectra Greentech Limited, said, "We feel happy to receive another prestigious order. We are proud to serve the Telangana citizens with our state-of-the-art zero-emission buses. Our buses have already been serving in Hyderabad for the last three years and are successfully transferring the passengers to the airport. We will deliver the buses as per the schedule and will give the best commuting experience.

"Currently, EVEY and Olectra Greentech Limited are operating electric buses in various State Transport Undertakings (STU) in the country, such as Pune (PMPML), Mumbai (BEST), Goa, Deharadun, Surat, Ahmedabad, Silvasa, and Nagpur, etc., These 12-metre, low floor, non-AC buses have a seating capacity of 35+Wheel Chair+D.

The electronically-controlled air suspension ensures a comfortable ride. The buses are equipped with CCTV cameras to ensure the safety of the commuters, an Emergency button and USB Sockets for each seat. The lithium-ion (Li-ion) battery installed in the bus enables it to travel around 200 kms on a single charge at 80% SOC, based on traffic and passenger load conditions. The technologically advanced bus has a regenerative braking system which allows the bus to recover part of the kinetic energy lost in braking. The high-power DC charging system enables the battery to charge in Less than five hours.