Tabreed makes grand entry in India: The UAE’s National Central Cooling Company (Tabreed) has achieved its first district cooling transaction in India under a partnership with Tata Realty and Infrastructure Limited (TRIL) in a multi mn AED agreement, it said in a statement (pdf) to DFM. The agreement with the real estate and infrastructure development arm of Indian conglomerate Tata Sons includes a AED 44.34 mn investment in TRIL’s Intellion Park special economic zone development in Gurugram.

What we know: The investment will allow Tabreed to acquire the existing cooling infrastructure at the park — spanning a total area of 3.5 mn square feet — and develop additional capacity to meet rising demand for cooling services at the zone and residential tenants in the area, the statement notes. Tabreed also plans to bolster and support the adoption of district cooling for developers amid a forecasted uptick in need for district cooling in the Indian real estate sector in the coming decades.

Right place, right time: India expects aggregated cooling demand to grow eightfold by 2037-2038, with cooling accounting for 45% of peak energy demand nationwide by 2050, the statement said, citing data from India’s Environment, Forest, and Climate Change Ministry. The ambitious targets come a few years after the ministry set up the India Cooling Action Plan to back the growth of sustainable district cooling across the country.

What they said: “As the world’s most populous country and one of the fastest growing economies, India will be a key strategic market and important partner for Tabreed as we expand our international presence,” Tabreed Chairman Khaled Abdulla Al Qubaisi said in the statement. “We expect to see large-scale adoption of district cooling in India as demand for real estate and cooling grows at a rapid pace.”