The International Finance Corporation ( IFC ), a member off the World Bank Group, and National Central Cooling Company PJSC( Tabreed ), one of the leading UAE-based international district cooling developer are planning to establish a District Energy Investment platform.
Both the establishments are clubbing together to establish District Energy Investment Platform in Singapore that will invest in trigeneration, district cooling and cooling as a service offering with primary focus in India and South-East asian countries.
Together they will invest in building Tabreed’s ongoing development activities in India. And establishing its wholly-owned subsidiary in the country.
The world’s third largest energy consuming country is India and cooling continues to be a major growth factor for the country.
Because of Indian government’s cooling action plan, the country forecasts an eight fold increase in its demand by 2038.
There is a huge demand for district cooling and heating utilities globally, because of cost effective low carbon pathways.
The Chief Executive officer of Tabreed, Bader Saeed Al Lamki said:
“The size and dynamism of India and other Southeast Asian countries will keep them at the heart of the global energy system with all roads to a successful global clean energy transion going via India.”
“Sustainable cooling plays a crucial role in materialising this vision. As a global leader in creating markets for climate businesses,”
“we are proud to be collaborating with the IFC, who also enjoys a significant advisory and investment presence in the region.”
Tabreed has been offering its service for over twenty two years for organizations seeking environment friendly cooling solutions.
