Tabreed, the global leader in District Cooling, has successfully entered the Indian market through a strategic alliance with TATA Realty and Infrastructure Limited (TRIL). This milestone collaboration involves an investment of Rs 100 Crore in TATA Realty’s Intellion Park special economic zone (SEZ) project in Gurugram, northern India.Under the agreement, Tabreed will acquire the existing cooling infrastructure at Intellion Park, covering an area of 3.5 million square feet.
In addition, Tabreed will expand the cooling capacity to meet the growing demand for cooling services at the development. Departing from the standard practice in India, where real estate developers manage cooling assets, Tabreed aims to provide cost-effective and efficient cooling solutions directly to the tenants of Intellion Park.
Khaled Abdulla Al Qubaisi, Chairman of Tabreed, said: “As the world’s most populous country and one of the fastest growing economies, India will be a key strategic market and important partner for Tabreed as we expand our international presence.“We expect to see large-scale adoption of District Cooling in India as demand for real estate and cooling grows at a rapid pace. Tabreed is delighted to partner with Tata Realty to develop leading, innovative District Cooling services, which will support sustainable urban development across India. This will unlock value for our stakeholders, while benefitting communities and reducing carbon emissions.”
Tabreed’s entry into the Indian market aims to promote the widespread adoption of District Cooling, relieving developers of upfront costs and encouraging more sustainable cooling solutions in the real estate sector. India is expected to experience the highest global increase in cooling-related energy demand in the coming years.
Sanjay Dutt, Managing Director and Chief Executive Officer of Tata Realty said: “Tata Realty has been at the forefront of promoting sustainable real estate development in India. With numerous achievements, including the country’s first net-zero certified commercial real estate campus, the company has set a high bar for the rest of the industry. In continuation of this trend, Tata Realty’s engagement with Tabreed to launch the Cooling as a Service (CaaS) market in India is expected to be a pivotal event, enabling the delivery of superior value to occupants, while promoting higher standards of ESG and wellness in commercial and mixed-use real estate developments.” With this alliance, Tabreed and Tata Realty are set to revolutionise cooling solutions in India, aiming to create a more sustainable and energy-efficient future for the real estate sector.