The deal sees Tabreed increase its presence to six countries
National Central Cooling Company (Tabreed) has inked a deal with the Andhra Pradesh Capital Region Development Authority (APCRDA) to build, own, operate and transfer its first district cooling system in India.
The 30-year concession deal will see a 20,000 refrigeration tonnes (RTs) plant take shape in the new capital Amaravati. The firm said the plant will be its first outside the GCC.
“As our first district cooling project in India, this signals a significant step for Tabreed to penetrate one of the world’s biggest and fastest growing markets. We see this as an opportunity to establish an initial presence which will be the foundation for further growth in the future,” said Tabreed chairman Khaled Abdulla Al Qubaisi.
The district cooling system is said to be part of Andhra Pradesh’s vision for Amaravati to create jobs and homes along with world-class infrastructure, a green city, and efficient resource management.
In support of plans for the capital city to be amongst the most sustainable cities in the world, Tabreed’s system will meet cooling requirements for the State’s Assembly, High Court, Secretariat and other government buildings that are currently under construction, for which cooling services will commence from early 2021, the statement said.
“Our strong core business, experienced team, structuring capabilities, and proven innovative skills made us the ideal choice to be a long-term partner of APCRDA. Our focus will be on delivering high quality and cost-effective cooling solution to provide long-term benefits for the Andhra Pradesh government,” Tabreed CEO Jasim Husain Thabet added.
APCRDA commissioner Dr Sreedhar Cherukuri concluded, “Bringing in the best solutions and providers from across the world to build Amaravati, we are excited to select Tabreed, a global district cooling leader, as our partner for our new capital. Tabreed demonstrated strong commercial flexibility, operational depth, and understanding of the complexity of well-structured district cooling concession schemes through the bidding process”.