Mindspace REIT commits to 100% renewable electricity use by 2050

Hyderabad: City based Mindspace Business Parks REIT has joined the global RE100 initiative led by Climate Group in partnership with CDP and has committed to transform to 100 per cent renewable electricity use across all areas serviced and maintained within the Mindspace Business Parks REIT portfolio by 2050. Mindspace REIT will also make renewable energy accessible to tenants who choose to avail the green power the entity said in a statement.

The firm has set phase-wise targets for the transformation. It will source 35 per cent of total energy requirement from renewable sources by 2025, 50 per cent by 2030, and 100 per cent by 2050. The entity currently sources approximately 10 per cent energy through renewable sources like solar energy and renewable energy certificates (RECs). With this move, it endeavours to fortify its commitment to sustainability, by sourcing power through green energy tariffs and solar energy.

Vinod Rohira, CEO, Mindspace Business Parks REIT, said "Our initiatives align with RE100 and are an effort to build a sustainable ecosystem for tenants, through deployment of energy efficient systems and renewable energy generation and sourcing. Our commitment also enables us to encourage our tenants to see the benefits of renewable energy and make the switch for their respective businesses. Committing to the RE100 vision of fully transitioning to renewable energy is our next step towards building a sustainable ecosystem and minimizing environmental impact."