Industry consortium to pool green energy demand
The first meeting of this newly formed association and its various partners including banks is scheduled for Wednesday when the modalities of the tender and terms of contract would be discussed after deciding the total energy requirement of the consortium. Rohan Parikh, head of green initiatives at Infosys, which is a key partner of the consortium, pegs the requirement to be around 500-600 million units.
The consortium has taken the Confederation of Indian Industry and climate change research organisation World Resources Institute on board to approach various banks for financial support and technical assistance, respectively. Global consulting major Accenture is also a part of the consortium.
Infosys, which is a part of the consortium, has already committed to buy 100 million units per annum of green energy. The company already meets one-third of its energy requirement from renewable sources.
“Multinational companies across industry sectors have got together to collate their demand and reach out to the sellers of renewable power and lending institutions. This is so because many companies are not in the energy business and would not like to invest their capital in buying green energy individually,” said Parikh. On the other hand, banks are not willing to
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