Tata Power and a Singapore-based asset management company Keppel collaborated to launch sustainable cooling-as-a-service (CaaS) solutions on October 24.
The CaaS solutions will be delivered through large-scale district cooling systems and individual building systems in urban areas, commercial and industrial sectors
Tata Power and a Singapore-based asset management company Keppel collaborated to launch sustainable cooling-as-a-service (CaaS) solutions on October 24.
The CaaS solutions will be delivered through large-scale district cooling systems and individual building systems in urban areas, commercial and industrial sectors. The system will be installed in airports, IT parks, special economic zones, data centres and other industrial and commercial properties where it can help in reducing energy usage by up to 40 per cent and cut carbon emissions by up to 50 per cent, according to the press release.
Tata Power contribute through the supply of power, energy management services, e-mobility, solar PV/wind and carbon offsets.
"By supporting the India Cooling Action Plan and the Smart Cities Mission, we are paving the way for innovative, intelligent Cooling-as-a-Service solutions that foster energy-efficient ecosystems across urban and energy intensive hubs," said Tarun Katiyar, CEO, Tata Power Trading Company, adding that the collaboration will contribute towards India’s targets of doubling the rate of improvement in energy efficiency by 2030.
Keppel claims to have implemented energy-efficient cooling solutions in Singapore and other parts of Asia, leveraging artificial intelligence and machine learning. The company has a combined cooling portfolio of more than 2,60,000 refrigeration tonnes in Asia.
"Given that conventional cooling accounts for up to 50% of a building’s energy, we are confident that this collaboration will significantly transform India’s cooling landscape and support the country's Net Zero targets,” said Poh Tiong Keng, executive director, emerging markets, EaaS, Infrastructure, Keppel.
According to the International Energy Agency, India is expected to become the world’s largest consumer of space cooling by 2050, accounting for 28 per cent of total electricity demand and 45 per cent of peak load.
Tata Power claims to have a diversified portfolio of 15,010 MW in renewable and conventional energy generation. It has 6150 MW of clean energy generation, constituting 41 per cent of its total capacity.
Few days ago, Tata Power Renewable Energy, a subsidiary of Tata Power, launched a programme called ‘Ghar Ghar Solar, Tata Power ke Sang’ to bring sustainable and affordable solar energy to households in Tamil Nadu. The programme has earlier been launched in Rajasthan, Uttar Pradesh, Kerala, and Chhattisgarh.