Energy Efficiency Services (EESL) is planning to invest in SWAG EV, which uses clean energy to provide swappable batteries for electric motorbikes in Thailand.
The e-bike batteries will increase capacity of the power grid to incorporate a higher share of renewable energy in its energy mix and lead to decarbonisation.
This concept is replicable across the world and this project will serve as the basis for implementation in India.
EESL’s initial USD five million investment was conceptualised by SHIFT Asia, a carbon finance platform designed and operated by South Pole to mobilise climate finance for e-mobility.
SHIFT Asia will co-fund the e-bike charging infrastructure in designated service areas and support EESL in financing shared batteries.
