ESR India Leases 1,25,000 Sq. Ft. Warehousing Space To HTL In Chennai
~Robust leasing momentum continues, and Tamil Nadu gains prominence amongst international companies as their preferred destination ~
Chennai, August 9, 2022: ESR, Asia Pacific's largest real asset manager powered by the New Economy, has leased 53,000 sq. ft. of prime industrial real estate to Siemens Gamesa, a leading global provider of wind power products and service solutions. Tamil Nadu has progressive policies to promote renewable energy generation in the state and has access to various renewable energy sources, making it an ideal location for Siemens Gamesa to expand its operations. In addition, ESR Oragadam is well connected with ports to import nacelle components. They will be stored at this facility and later sent for assembly at Siemens Gamesa's Mamandur plant.
Siemens Gamesa has operated in India since 2009 and has blade factories in Nellore (Andhra Pradesh), a nacelle factory in Mamandur (Chennai, Tamil Nadu), and an operations and maintenance centre in Red Hills (Chennai, Tamil Nadu). The company is a market leader with a 40% market share.
Abhijit Malkani, Country Head, ESR India, stated, "Renewable Energy has gained momentum over the past few years, making India the fourth largest producer of wind energy. Since the inception of ESR, sustainability has been one of the cornerstones of our business. We have developed a solid ESG framework, and renewable energy integration is one of the critical elements of our strategy. Moreover, we acknowledge the effects of climate change. Hence it is our immense pleasure to welcome Siemens Gamesa, a world-leading producer of renewable energy products, to ESR Oragadam; with this facility, we hope they can further strengthen the renewable energy infrastructure in Tamil Nadu.”
XXX Siemens Gamesa stated, “We are proud to partner with ESR for our warehousing needs in Chennai. ESR Oragadam provided excellent infrastructure and connectivity to help us set up our warehouse operations in Oragadam. To deliver on our sustainable commitments, we will operate out of a green building, pre-certified gold by Indian Green Building Council. As India's renewable energy demand grows, we aim to expand with ESR to other lucrative renewable energy markets.”
Spread across 80 acres, ESR Oragadam is a state-of-the-art industrial & logistics park in the heart of Oragadam's industrial belt. Oragadam houses over 22 Fortune 500 companies and is an existing hub for sectors such as automobile, auto-ancillary, R&D centres, 3PLs, electronics, energy, aerospace, and defence. This facility is developed with global standards keeping sustainability at the forefront. ESR Oragadam has been pre-certified gold by IGBC (Indian Green Building Council).
ESR is APAC’s largest real asset manager powered by the New Economy and the third largest listed real estate investment manager globally. With US$140.2 billion in total assets under management (AUM), our fully integrated development and investment management platform extends across key APAC markets, including China, Japan, South Korea, Australia, Singapore, India, New Zealand, and Southeast Asia, representing over 95% of GDP in APAC, and includes an expanding presence in Europe and the U.S. We provide a diverse range of real asset investment solutions and New Economy real estate development opportunities across our private funds business, which allow capital partners and customers to capitalize on the most significant secular trends in APAC. ESR is the largest sponsor and manager of REITs in APAC with a total AUM of US$45 billion. Our purpose – Space and Investment Solutions for a Sustainable Future – drives us to manage sustainably and impactfully and we consider the environment and the communities in which we operate as key stakeholders of our business. Listed on the Main Board of The Stock Exchange of Hong Kong, ESR is a constituent of the FTSE Global Equity Index Series (Large Cap), Hang Seng Composite Index and MSCI Hong Kong Index. More information is available at www.esr.com and www.in.esr.com.
About Siemens Gamesa Renewable Energy
Siemens Gamesa unlocks the power of wind. For more than 40 years, we have been a pioneer and leader of the wind industry, and today our team of more than 26,000 colleagues work at the centre of the global energy revolution to tackle the most significant challenge of our generation – the climate crisis. With a leading position in onshore, offshore, and service, we engineer, build, and deliver powerful and reliable wind energy solutions in strong partnership with our customers. A global business with local impact, we have installed more than 122GW and provide access to clean, affordable, and sustainable energy that keeps the lights on across the world. To find out more, visit www.siemensgamesa.com and connect with us on social media.