Cooling as a Service TechEmerge (IFC-607349)

Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 24, 2022
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Tabreed India Pvt Ltd and others
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 1.88 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 1.88 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS May 14, 2024

Disclosed by Bank Apr 12, 2024

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the objectives of this program are to: (i) generate OPEX savings through the application of more efficient cooling technologies; (ii) reduce or avoid GHG emission; and (iii) explore CaaS (Cooling-as-a-Service) business models in India with potential application in other markets. More specifically, the project will be measured against: • Number of commercial contracts signed between Grantees and Adopter (Tabreed and other Corporates) post-pilot; • GHG emissions expected to be reduced or avoided; • Financing facilitated, through a combination of commercial transactions for deployment of new technologies by participating adopter (Tabreed and other Corporates) and/or financing raised by Grantees, including from IFC.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Estimated Total Budget: $1,880,000.00

(Project budget includes all project-funded activities)

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Tabreed India Private Limited - Tabreed is a leading international district cooling developer based in the UAE providing energy efficient, cost effective and environmentally friendly year-round cooling solutions in the GCC, India, and beyond. Founded in 1998, and listed on the Dubai Financial Market, Tabreed’s cooling infrastructure is an integral part of the region’s growth. The company now delivers over 1.4 million refrigeration tons to major residential, commercial, government and private projects.

CET ENVIRO PRIVATE LIMITED - CET Enviro offers a range of innovative technologies that optimise and maintains heat transfer performance in large-scale cooling systems such as Water-Cooled Chillers, Commercial HVAC, and Cooling Towers for Commercial buildings, Industries, Power Plants, Hospitals, Airports, Hotels and Oil & Gas Industries.

Indian Institute of Technology Jammu - IIT is an autonomous public higher education Institute funded by the Government of India, and functions under the governance of the IIT Council.

ENDO ENTERPRISES UK LTD - A privately owned company based in a dual purpose facility in the Gemini Business Park, Warrington. Their mission statement is to improve the livelihood and health of the customers through their water based treatments. 

Ecomax Solutions Private Limited - Sustainable & Innovative Solutions in Water & Energy Efficiency

IOTOMATION ECOTECH PRIVATE LIMITED - IOTomation designs, develops and manufactures innovative & intelligent building and energy management solutions that not only reduces the costs of energy, commissioning and maintenance but at the same time also enables safer, efficient, reliable and more productive environment.

 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - CET ENVIRO PRIVATE LIMITED Client -
- - - - Ecomax Solutions Private Limited Client -
- - - - ENDO ENTERPRISES UK LTD Client -
- - - - Indian Institute of Technology Jammu Client -
- - - - IOTOMATION ECOTECH PRIVATE LIMITED Client -
- - - - Tabreed India Private Limited Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works