Airtel invests in renewable energy for data centres
ECONOMY & POLICY

Airtel invests in renewable energy for data centres

Bharti Airtel has unveiled plans to procure 23,000 MW of renewable energy for its data centre subsidiary, Nxtra, by the fourth quarter of FY24. This initiative aligns with Airtel's commitment to reduce its carbon footprint and will involve investments in renewable energy projects managed by Continuum Green India and Vibrant Energy Holdings.

The primary objective of this investment is to power six of Nxtra's Edge data centre facilities. The procurement of renewable energy will be facilitated through an open access route, with Airtel investing in Continuum Green's project company. This company will be responsible for supplying environmentally friendly power generated from solar and wind energy projects to Nxtra's Edge data centres located in Madhya Pradesh.

Furthermore, Airtel has entered into an investment agreement with Vibrant Energy's project company to provide solar energy for its Edge data centre in Vijayawada.

These strategic moves will bolster Nxtra's total contracted renewable energy capacity to over 274,000 MW, firmly positioning the company as a leader in the development of eco-friendly data centres.

Ashish Arora, CEO of Nxtra by Airtel, expressed the company's commitment to becoming a Net Zero Company by 2031, emphasising their dedication to minimising their carbon footprint and spearheading the eco-friendly data centre movement in India.

Bharti Airtel has unveiled plans to procure 23,000 MW of renewable energy for its data centre subsidiary, Nxtra, by the fourth quarter of FY24. This initiative aligns with Airtel's commitment to reduce its carbon footprint and will involve investments in renewable energy projects managed by Continuum Green India and Vibrant Energy Holdings.The primary objective of this investment is to power six of Nxtra's Edge data centre facilities. The procurement of renewable energy will be facilitated through an open access route, with Airtel investing in Continuum Green's project company. This company will be responsible for supplying environmentally friendly power generated from solar and wind energy projects to Nxtra's Edge data centres located in Madhya Pradesh.Furthermore, Airtel has entered into an investment agreement with Vibrant Energy's project company to provide solar energy for its Edge data centre in Vijayawada.These strategic moves will bolster Nxtra's total contracted renewable energy capacity to over 274,000 MW, firmly positioning the company as a leader in the development of eco-friendly data centres.Ashish Arora, CEO of Nxtra by Airtel, expressed the company's commitment to becoming a Net Zero Company by 2031, emphasising their dedication to minimising their carbon footprint and spearheading the eco-friendly data centre movement in India.

Next Story
Infrastructure Urban

Macrotech acquires Bain Capital's stake in 3 entities for Rs 3 Bn

Realty firm Macrotech Developers has acquired Bain Capital's stake in three industrial and logistics park entities for Rs 3.07 billion as part of a strategy to enhance rental income. Macrotech Developers is one of the leading real estate firms in the country. It sells properties under Lodha brand. In a regulatory filing, the company informed that it has "executed Securities Purchase Agreements (SPAs) with India Opportunities Fund SSA Scheme 1 and DSS Opportunities Investment 1 (Bain Capital) for acquisition of their interest in the digital infrastructure platform entities (Bellissimo Digital I..

Next Story
Infrastructure Urban

Tata Steel reports Rs 7.59 Bn net profit in Jul-Sep

Tata Steel reported a net profit of Rs 7.58 billion for the September 2024 quarter, helped by lower expenses. It had posted a net loss of Rs 65.11 billion in the July-September period of the preceding 2023-24 fiscal, the company said in an exchange filing. In a separate statement, Tata Steel CEO and MD TV Narendran said the global operating environment remained complex, with key regions facing subdued growth. Macroeconomic conditions in China continued to weigh on commodity prices, including steel. In India, steel demand continued to improve, but domestic prices were under pressure due to chea..

Next Story
Infrastructure Urban

SC to verdict on Nov 7 on plea against NCLAT

The Supreme Court is scheduled to pronounce its verdict on a plea of State Bank of India (SBI) and other creditors challenging the National Company Law Appellate Tribunal (NCLAT) decision that upheld the resolution plan of grounded air carrier Jet Airways and approved the transfer of its ownership to Jalan Kalrock Consortium (JKC). A bench of Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra will pronounce the verdict which was reserved on October 16. The NCLAT had on March 12 upheld the resolution plan of the grounded air carrier and approved the transfer of its ownersh..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000