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Tata Power and JLL Sign Agreement to Offer Green Energy Options to Real Estate Sector

by Rishika Choudhury

Date & Time: Aug 03, 2022 10:00 PM

Read Time: 3 minute

Tata Power, one of India's top integrated power companies, and JLL India, a company that specialises in real estate and investment management, have signed a Memorandum of Understanding (MoU) to promote green energy solutions in the real estate industry.

The real estate sector not only drives the nation's economy and contributes 6-7 percent of India's GDP, but it also accounts for 22 percent of all emissions in the country.

According to the World Economic Forum, the real estate industry uses an astounding 3 billion tonnes of raw materials annually, accounting for 40% of all the energy used in the world. This method of building construction results in 20% of all global greenhouse gas emissions.

Explore opportunities to broaden Tata Power's Green Energy solutions

As part of the collaboration, the two companies will explore opportunities to broaden Tata Power's Green Energy solutions across the client portfolios of JLL India, which has offices in 11 cities.

Tata Power will support JLL India in converting the companies' current locations in the country into Green Energy power hubs.

In accordance with this partnership, Tata Power will use Open Access Solutions to provide reliable, affordable, high-quality renewable energy.

All of the properties will also be equipped with convenient smart metering and billing technologies that work seamlessly. These smart metres will have data analytics that track usage in real-time and forecast consumption, helping customers use energy as efficiently as possible.

Facilities Tata Power will provide

Additionally, Tata Power will put up solar rooftops, which will lower energy prices while simultaneously promoting the use of clean, sustainable energy. To support a smart lifestyle, the company will provide IoT-based, voice- and app-controlled automation-based energy management solutions. Additionally, Tata Power will assist e-mobility solutions by providing 24/7 EV chargers that include installation and regular maintenance.

According to a report, EV users will be able to connect for remote car charging monitoring and e-payment options through the Tata Power EZ Charge smartphone application.

Dr Praveer Sinha, CEO & MD, Tata Power, stated at the signing event: “We are confident that our expertise as an EaaS (Energy as a Service) provider will help JLL and its discerning customers to adopt a green and sustainable lifestyle."

Working toward being carbon net zero by 2045

Tata Power is working toward being carbon net zero by 2045 as part of its Environmental, Social and Governance (ESG) agenda.

The website clearly states: “At Tata Power, we are committed to tackling the issues of Climate Change by adopting Sustainable and responsible growth. We believe in accelerating the transition to a sustainable future and our #futureready approach has enabled us to carefully strategize our business offerings and empower customers for tomorrow’s world.”

The company hopes to reach a 70% renewable energy portfolio by 2030 and a 100% clean energy portfolio by 2045. It also intends to become completely water neutral and landfill-free by 2030.

Meanwhile, Radha Dhir, CEO and Country Head, JLL India stated at the event: “An ecosystem of partnership and collaboration is crucial to accelerate the race to net zero. With partners like Tata Power and their vision of providing clean, green, and sustainable solutions for all our energy needs, we are certain of driving the sustainability agenda in the real estate ecosystem."
Dhir also stated that the use of renewable and green energy is an urgent necessity.

JLL, on the other hand, stated in its 2021 Global Sustainability report that the firm's net-zero ambition seeks to completely eliminate 95 percent of its carbon impact by 2040. It is on track to meet its net-zero 2030 goal for occupied office space and its vehicle fleet by the end of 2021, after reducing Scope 1 and 2 emissions by 17 percent from its baseline year of 2018.

Also Read: Puri says India will become a global leader in green hydrogen

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