Bengaluru, 24 October, 2024 : Tata Power Trading Company Limited, a wholly-owned subsidiary of Tata Power, one of India’s largest integrated power companies, and Keppel, a Singapore-headquartered global asset manager and operator with strong expertise in sustainability-related solutions spanning the areas of infrastructure, real estate and connectivity, have entered into a collaboration arrangement to launch sustainable Cooling-as-a-Service (CaaS) solutions in India.
CaaS enables businesses and building owners to subscribe to long-term, energy-efficient space cooling solutions without having to invest heavily in infrastructure, thus allowing them to enjoy significant energy and cost savings.
Aligned with India’s Cooling Action Plan (ICAP) and its Smart Cities Mission, the Tata Power- Keppel collaboration aims to provide state-of-the-art CaaS solutions, delivered through the deployment of both large-scale District Cooling Systems (DCS)[1] as well as individual building systems to serve India’s key urban areas, commercial and industrial sectors.
The collaboration will focus on high-demand environments, such as airports, IT parks, Special Economic Zones, data centres, and other industrial and commercial properties where the aggregation of cooling demand through solutions, such as DCS, can help to reduce energy use by up to 40% and cut carbon emissions by up to 50%.
Tata Power, with its rich legacy as a leading energy solutions provider across India, will bring its deep understanding of the local market and extensive infrastructure network to the collaboration. Tata Power will also provide comprehensive energy solutions through the supply of power, energy management services, e-mobility, solar PV/wind, and carbon offsets.
Keppel will harness its proven track record in designing and operating CaaS solutions in Asia to jointly explore opportunities with Tata Power in the Indian market. As the pioneer DCS provider in Singapore, Keppel has a combined cooling portfolio of more than 260,000 refrigeration tonnes in Asia[2], serving the commercial, retail, and residential sectors as well as mission-critical industrial customers, such as wafer fabrication, biomedical and data centres.
Commenting on the association, Mr Tarun Katiyar, CEO, Tata Power Trading Company Ltd. said, “This collaboration represents a significant milestone in transforming India’s energy landscape, aligning with our commitment to a sustainable and energy-efficient future.
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. Together, we will contribute towards India’s ambitious targets of doubling the rate of improvement in energy efficiency by 2030.”
Mr Poh Tiong Keng, Executive Director, Emerging Markets, EaaS, Infrastructure, Keppel said, “We are pleased to partner with Tata Power, leveraging their strong local presence, to deliver our innovative and proven Cooling-as-a-Service solutions to the vast Indian market.
Leveraging artificial intelligence and machine learning, Keppel has successfully implemented energy-efficient cooling solutions in Singapore and other parts of 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.”
According to the International Energy Agency, India is expected to become the world’s largest consumer of space cooling by 2050, accounting for 28% of total electricity demand and 45% of peak load. In such a scenario, the implementation of CaaS can play a critical role in supporting India’s sustainability goals.
