Swedish system integrator URBS announced on Monday a partnership with Bootes to bring investment and technology from Nordic nations to India for a variety of projects. This deal will be accelerated by a strengthened relationship between the two companies, assisting in the rapid growth of India’s infrastructure and real estate sectors, according to a release.
According to the announcement, this collaboration would hasten decarbonisation by facilitating Nordic green funding for verified net-zero projects in India and introducing proven technology that maximise efficiency while minimising environmental effect.
This strategy is further bolstered by growing interest from the Nordic region in providing AAA-rated financing for these scalable projects.
Fredrik Agerhem, Managing Director of Finance at URBS, stated, “The climate catastrophe necessitates both aggressive action and strong partnership. This collaboration will offer technical transparency and a platform for green funds and AAA-rated institutions to invest in and guarantee projects in one of the world’s most dynamic markets.”
Bootes and URBS will jointly introduce Cooling-As-A-Service in December 2023, aiming to cut India’s energy expenses by up to 50% and minimise carbon emissions.
Over Rs 1,000 crore in private sector projects are planned for completion in the future years by the two Indian organisations.
URBS founder and CEO Will Sibia stated during a recent investor call in Mumbai, “We have tremendous faith in our partner Bootes and their execution ability for green projects in India.
“This partnership represents a commitment to excellence in Indian real estate, combining advanced technologies with financial de-risking to support India’s transition towards a circular economy.”
Deepak Rai, CEO of Bootes, stated that this improved cooperation with URBS is a key step towards the company’s aim of accelerating India’s transition to a net-zero future.
Rai stated that the combination of Nordic green financing and cutting-edge technologies will allow us to produce large-scale, impactful, and sustainable projects.
