CESL – HPCL partnership

CESL – HPCL partnership

Question : Convergence Energy Services Ltd(CESL) has recently(July 2021) signed an agreement with Hindustan Petroleum Corporation Ltd for setting up of EV charging points in metro cities across India. Accordingly, which of the following statement is correct ?
Statements —

  1. CESL is awholly owned subsidiary of EESL
  2. Charging points will have one or more types of chargers with fast, slow or moderate speed capacity
  3. They will be operated through an app of CESL
    Options —

    A Only 1
    B Only 2
    C Only 3
    D All above
    Ans D
    Related facts —
  • State-run Convergence Energy Services Ltd has recently(July 2021) signed agreement with Hindustan Petroleum Corporation Ltd for setting up of EV charging points in metro cities across India.
  • It is notable that CESL(Convergence Energy Services Ltd) is a wholly owned subsidiary of Energy Efficiency Services Limited (EESL).
  • Spanning 10 years, the agreement entails CESL and HPCL to jointly undertake setting up of EV charging points in many cities.
  • These cities would be Mumbai, Delhi NCR, Bengaluru, Hyderabad, Chennai, Kolkata and Pune etc.
  • CESL and HPCL will identify major highways across India where adequate charging infrastructure can be installed and established.
  • The charging points will have one or more types of chargers with fast, slow or moderate speed capacity.
  • They will be operated through an app of CESL, which will facilitate better control and monitoring of all charging stations.

Link: https://www.businesstoday.in/markets/stocks/story/hpcl-ties-up-with-cesl-to-set-up-ev-charging-points-in-metro-cities-across-india-stock-up-4-303050-2021-08-02