{"id":79244,"date":"2023-08-29T01:00:03","date_gmt":"2023-08-29T01:00:03","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/08\/29\/tabreed-tapped-as-the-preferred-bidder-for-indian-district-cooling-project\/"},"modified":"2023-08-29T01:00:03","modified_gmt":"2023-08-29T01:00:03","slug":"tabreed-tapped-as-the-preferred-bidder-for-indian-district-cooling-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/08\/29\/tabreed-tapped-as-the-preferred-bidder-for-indian-district-cooling-project\/","title":{"rendered":"Tabreed tapped as the preferred bidder for Indian district cooling project"},"content":{"rendered":"

<\/a>Tabreed continues its India<\/strong>n expansion:<\/strong> The UAE\u2019s National Central Cooling Company (Tabreed) has been named preferred bidder for a long-term district cooling concession for the Hyderabad Pharma City<\/a> in Telangana, a disclosure (pdf) to the DFM<\/a> read on Monday. The agreement is set to close in 4Q 2023 with construction set to begin \u201cas soon as possible,\u201d The National<\/a> reports.<\/p>\n

What we know:<\/strong> The district cooling project\u2019s initial phase will see the construction of district cooling facilities supplying 2.5k refrigeration tons (RT) at an approximate project cost of AED 36.2 mn. The project will be expanded in phases depending on cooling demand, with total concession loads reaching up to 125k RT.<\/p>\n

Who\u2019s paying what: <\/strong>The first phase of the project will see a funding mix of 75% in local financing and 25% in equity paid in line with construction milestones, The National writes, citing statements by Tabreed. \u201cAdditional investment will be required to fund construction of additional cooling infrastructure in line with project requirements as needed to meet demands,\u201d the company said.<\/p>\n

Not Tabreed\u2019s first Indian rodeo:<\/strong> Tabreed made its grand entry in India<\/a> under a partnership in May with Tata Realty and Infrastructure Limited (TRIL). The agreement with the real estate and infrastructure development arm of Indian conglomerate Tata Sons includes a AED 44.34 mn investment in TRIL\u2019s Intellion Park special economic zone development in Gurugram. It began commencing its first operations<\/a> in the country last month.<\/p>\n

Tabreed has big plans for the country: <\/strong>Tabreed finalized a significant five year strategic<\/a>partnership<\/a> with the International Finance Corporation (IFC) to invest up to USD 400 mn for its expansion in India. Tabreed and the IFC have been targeting a portfolio of c. 100k RT servicing industrial, commercial, and retail developments across the country.<\/p>\n

And India is serving up potential:<\/strong> India expects aggregated cooling demand to grow eightfold by 2037-2038, with cooling accounting for 45% of peak energy demand nationwide by 2050, Tabreed said in May<\/a>, citing data from India\u2019s Environment, Forest, and Climate Change Ministry. The ambitious targets come a few years after the ministry set up the India Cooling Action Plan<\/a> to back the growth of sustainable district cooling across the country.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tabreed continues its Indian expansion: The UAE\u2019s National Central Cooling Company (Tabreed) has been named preferred bidder for a long-term district cooling concession for the Hyderabad Pharma City in Telangana, a disclosure (pdf) to the DFM read on Monday. The agreement is set to close in 4Q 2023 with construction set to begin \u201cas soon […]<\/p>\n","protected":false},"author":1,"featured_media":79245,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[235],"tags":[199,11,260,200],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-district-cooling","tag-district-cooling","tag-enterpriseclimate","tag-india","tag-tabreed","wpautop","entry"],"acf":{"mongo_id":"5b92dea4-9a05-49e6-b8b7-28b2d5aad1dd","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/2743.jpg","photo_position":"above","related_issue":[79239],"teaser":"","voice_url":""},"yoast_head":"\nTabreed tapped as the preferred bidder for Indian district cooling project - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/08\/29\/tabreed-tapped-as-the-preferred-bidder-for-indian-district-cooling-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tabreed tapped as the preferred bidder for Indian district cooling project\" \/>\n<meta property=\"og:description\" content=\"Tabreed continues its Indian expansion: The UAE\u2019s National Central Cooling Company (Tabreed) has been named preferred bidder for a long-term district cooling concession for the Hyderabad Pharma City in Telangana, a disclosure (pdf) to the DFM read on Monday. 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