WeWork India to Develop 10 MWp Solar Power Plant in Karnataka
Bengaluru, September 4, 2024: Flexible workspace provider WeWork India Management Limited announced plans to develop a 10 MWp (DC) ground-mounted solar power plant in Karnataka. The initiative marks a step toward the company’s goal to transition to 100% renewable electricity by March 2028, WeWork India Management said in a press release.
Targeted for commissioning in Q1 FY27, the plant is expected to generate 15 to 16 million units of clean electricity annually. Once operational, it will increase the share of renewable electricity across WeWork India’s overall portfolio from nearly 40% to approximately 50%. Around 80% of the plant’s output will power 10 centers in Bengaluru, with the remaining 20% reserved for future expansion.
Karnataka serves as a key location for the investment, with Bengaluru holding WeWork India’s largest market at 30 operational centers. The state accounts for roughly 30% of the company’s total portfolio electricity consumption. The move aims to reduce reliance on conventional grid electricity while lowering long-term operating expenses over the asset’s expected 25-year design life.
Commenting on the development, Karan Virwani, Managing Director & CEO, WeWork India, said, “Bengaluru is our largest market, making it the natural starting point for an investment of this scale. As we grow, we want a greater share of that growth to be powered by clean energy, but we also want sustainability to make strong business sense. Building our own renewable generation capacity allows us to do both – reduce the carbon footprint of our operations while creating greater certainty over energy costs for the next 25 years. This is the kind of long-term investment we believe can make sustainability an integral part of how we scale, rather than an initiative that sits alongside the business.”
The project reflects a shift from procuring green energy to investing directly in renewable generation capacity through a hybrid model combining owned generation, captive consumption, and open access. WeWork India noted that offering workspaces backed by cleaner energy will also assist enterprise clients in achieving their internal environmental goals.
