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Thursday, February 8, 2024
HomeNewsIndustry NewsCapitaLand India Trust commissions 21-megawatt captive solar plant in Tamil Nadu

CapitaLand India Trust commissions 21-megawatt captive solar plant in Tamil Nadu

With the first captive solar power plant in Tamil Nadu, CLINT aims to increase renewable energy usage by over 70% in line with its Net Zero commitment.
CapitaLand India Trust (CLINT) has set up its first captive solar power plant in Tamil Nadu, India. The 21-megawatt (MW) solar plant will generate over 30 million kilowatt-hours (kWh) of electricity annually and meet the power supply needs of 2 million sq ft equivalent of office space.The power generated from the solar plant will be utilised predominantly for the common areas of CLINT’s assets in Tamil Nadu. This will increase CLINT’s green energy usage by over 70%, reduce its carbon emissions by more than 17,000 tonnes, as well as reduce its need to purchase power. The facility has an 8 MW expansion potential to bring the solar plant’s total size to 29 MW.
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Mr. Sanjeev Dasgupta, Chief Executive Officer of CapitaLand India Trust Pte. Ltd.
Mr. Sanjeev Dasgupta, Chief Executive Officer of CapitaLand India Trust Pte. Ltd. (the Trustee- Manager of CLINT), said: “The solar power plant in Tamil Nadu is testament to our increasing adoption of renewable energy. This is central to CLINT’s decarbonisation strategy and in line with our sponsor CapitaLand Investment’s (CLI) commitment to achieve Net Zero carbon emissions for scope 1 and 2 by 2050. We will continue to actively source green energy to power our portfolio and seek innovations to enhance our sustainability performance throughout our assets’ real estate life cycle, from investment to design, development and operations.”

Mr. Vinamra Srivastava, CLI’s Chief Sustainability & Sustainable Investments Officer, said: “The expansion of our renewable energy solutions in India demonstrates CLI’s focus on execution towards achieving our 2030 Sustainability Master Plan targets. In 2022, 26 of CLI’s properties in 7 countries and 10 business parks in India were powered by renewable energy, mitigating about 33,500 tonnes of carbon emissions. This is equivalent to the annual emissions of 7,400 petrol- powered cars1. We are piloting various technologies sourced from around the world and will remain nimble in adapting our decarbonisation solutions across different markets to create a sustainable built environment.”

1 This assumes that a typical passenger vehicle emits about 4.5 tonnes of CO2e per year. Source: //

Highlights of CLINT’s sustainability initiatives

CLINT has been stepping up its environmental, social and governance (ESG) efforts to contribute towards achieving CLI’s 2030 Sustainability Master Plan targets. As at December 2023, 99% of CLINT’s business park assets have received green ratings from either the Indian Green Building Council or the US Green Building Council. It has been installing rooftop solar panels across its buildings and procuring green energy through long-term power purchase agreements as part of its efforts to transition to a low-carbon business.CLINT has been recognised by leading global sustainability benchmarks for its ESG efforts. These recognitions include a 4-star rating for its sustainability achievements in its first year of participating in the 2023 GRESB Real Estate Assessment. CLINT also achieved an ‘A’ for public disclosure.

About CapitaLand India Trust

formerly known as Ascendas India Trust (a-iTrust), was listed on the Singapore Exchange Securities Trading Limited (SGX-ST) in August 2007 as the first Indian property trust in Asia. Its principal objective is to own income-producing real estate used primarily as business space in India. The company may also develop and acquire land or uncompleted developments primarily to be used as business space, with the objective of holding the properties upon completion. As at 30 September 2023, the company’s assets under management stand at S$2.7 billion.CLINT’s portfolio includes nine world-class IT business parks, one logistics park, one industrial facility and four data centre developments in India, with total completed floor area of 19.2 million square feet spread across Bangalore, Chennai, Hyderabad, Pune and Mumbai. CLINT is focused on capitalising on the fast-growing IT industry and logistics/industrial asset classes in India, as well as proactively diversifying into other new economy asset class such as data centres.The company is structured as a business trust, offering stable income distributions similar to a real estate investment trust. CLINT focuses on enhancing shareholder value by actively managing existing properties, developing vacant land in its portfolio, and acquiring new properties. CLINT is managed by CapitaLand India Trust Management Pte. Ltd., formerly known as Ascendas Property Fund Trustee Pte. Ltd. The trustee-manager is a wholly owned subsidiary of Singapore- listed CapitaLand Investment Limited, a leading global real estate investment manager with a strong Asia foothold.

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