Mindspace Business Parks REIT commits to 100% electric mobility by 2030

Mindspace Business Parks REIT, backed by realtor K Raheja Corp and private equity firm Blackstone Group, on Thursday said it has committed to a 100 per cent electric mobility by 2030 for reducing air pollution and already installed more than 1,000 electric charging stations in its office complexes.

The company recently raised Rs 4,500 crore in its Real Estate Investment Trust (REIT) public issue.

In a regulatory filing, Mindspace said it has joined the Climate Group's global EV100 initiative, which brings together nearly 90 international companies committed to making electric transport the new normal by the end of this decade.

It has an office portfolio that covers five business parks and five independent offices in Mumbai region, Pune, Hyderabad and Chennai. Over 2 lakh employees are coming to work each day in its office complexes, it said.

"The recently listed REIT will ensure this transition by expanding electric vehicle charging infrastructure for clients across all its business parks in India," Mindspace said.

Mindspace Business Parks REIT has already begun driving EV uptake amongst its clients by installing more than 1,000 charging points across its business parks, which can be accessed free of charge. In the next phase of this commitment, it will be ramping up the numbers, as the portfolio grows.

Mindspace Business Parks' tenants include affiliates of Accenture, Qualcomm, BA Continuum, JP Morgan, Amazon, Schlumberger, UBS, Capgemini, Facebook, Barclays and BNY Mellon.

Vinod Rohira, CEO Mindspace Business Parks REIT, said: "Our endeavour under the Climate Group's EV100 initiative is to fortify our commitment to sustainability, with the best blend of innovation and technology.

(To download our E-paper please click here. The publishers permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Free Press Journal