Tata Power has signed a Memorandum of Understanding (MoU) with the real estate firm JLL India to promote green energy solutions in the Indian realty space. The signing of the MoU took place in a ceremony in India’s financial capital, Mumbai.
As per the terms of the MoU, the companies will jointly evaluate opportunities across JLL India’s clients’ portfolios to extend Tata Power's Green Energy solutions. The Tata Group subsidiary will also join forces with JLL India to support the transition of their existing offices in India into Green Energy power hubs.
“With the real estate sector contributing nearly 40 per cent of all greenhouse gas emissions, it is time to think green and to lead the realty sector towards green energy adoption,” the companies said in a joint statement.
Tata Power will provide quality, reliable and cost-effective renewable energy through Open Access Solutions, in addition to metering and billing solutions using smart meters which will be installed in all the properties.
As per the statement, these smart meters will be equipped with data analytics which will monitor power consumption in real-time. In addition to this, they will also provide consumption predictions which will aid customers in optimising their energy usage.
Tata Power will also install solar rooftops in a bid to provide a greener and cleaner energy while simultaneously reducing energy bills. The company further added that it will provide IoT-based, voice/app-controlled automation-based energy management solutions along with providing 24*7 Electric Vehicle (EV) chargers. EV users will be able to use these charging facilities through the Tata Power EZ Charge mobile app.
"We are delighted to partner with JLL India to usher in Green Energy solutions in the realty space through our clean and green energy solutions. 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,” said Praveer Sinha, MD and CEO, Tata Power.
Radha Dhir, CEO and Country Head, India, JLL, added: “We are at a tipping point and, to deliver a net zero economy, adoption of renewable and green energy is the need of the hour. While setting or committing to sustainability goals acknowledges the issue's criticality, efforts must be made to convert commitments into tangible results".