URBS & Bootes Partner for Green Tech Investment in India

New Delhi, Sep 2 (PTI) Swedish system integrator URBS on Monday announced its collaboration with Bootes to bring investment and technology from Nordic countries to India for various projects.

This agreement will further accelerate with a strengthened partnership between the two companies and help the rapid growth of India's infrastructure and real estate sector, a statement said.

According to the statement, this collaboration will accelerate decarbonisation by facilitating Nordic green financing for verified net-zero projects in India and introducing proven technologies for maximum efficiency and minimal environmental impact.

This initiative is further supported by increasing interest from the Nordic region to provide AAA-rated backing for these scalable projects.

Fredrik Agerhem, Managing Director of Finance at URBS, said, "The climate crisis demands both bold action and strong collaboration. This partnership will provide technology transparency and a platform for green funds and AAA-rated institutions to invest in and guarantee projects in one of the most dynamic markets globally".

In December 2023, Bootes and URBS jointly launched Cooling-As-A-Service to reduce India's energy costs by up to 50 per cent and reduce carbon emissions.

Over Rs 1,000 crore of private sector projects are slated for execution in the coming years between the two entities in India.

URBS founder and CEO Will Sibia said in a recent investor call in Mumbai, "We have strong confidence in our partner Bootes and their execution capabilities 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."

Bootes CEO Deepak Rai said this strengthened partnership with URBS is a significant step in its mission to accelerate India's transition to a net-zero future.

The combination of Nordic green financing and cutting-edge technologies will enable us to deliver impactful, sustainable projects at scale, Rai added.