India REIT announces sustainability investment
Embassy Office Parks REIT has launched a plan to spend more than $35 million on sustainability initiatives.
The Indian real estate investment trust has committed INR3 billion ($36.4 million) to double its solar energy capacity to 240MW of on and offsite power. Last week it launched a 20MW rooftop solar project as part of this programme.
The REIT, which owns office properties in Mumbai, Delhi, Bangalore and Pune, aims to achieve 75% renewable energy usage by 2025 as part of its commitment to hit net zero carbon in operations by 2040.
CEO Vikaash Khdloya said: “Keeping sustainability as a core focus, we continue to deliver and operate world-class, wellness-oriented workspaces for our occupiers and their employees.”