Brookfield Properties Powers Delhi NCR with Renewable Energy

Delhi-NCR / October 21, 2024: Brookfield Properties has partnered with its Bikaner Solar Power Project to provide renewable energy to its Delhi NCR occupiers. This marks the first such arrangement in India under the Inter State Transmission System (ISTS) bilateral agreement. As a result, 40% of the energy consumed by Brookfield Properties’ Delhi NCR tenants now comes from renewable sources, a statement from Brookfield Properties said. 

Brookfield Properties is transitioning four of its campuses in Delhi NCR to renewable energy. This initiative, part of the BIRET portfolio, is expected to reduce carbon emissions by over 20,000 metric tons annually. This reduction is comparable to removing approximately 4,300 cars from the road each year, the statement added.

Ananya Tripathi, Managing Director, Real Estate in India, Brookfield said, “Given our scale, we recognize the importance of both, addressing environmental issues that are most material to our business and creating positive outcomes for our stakeholders. This collaboration represents our ability to power our properties’ portfolio with renewable energy solutions and brings us closer to our goal of using 100% renewable power across Brookfield Properties by 2027.”

Murzash Manekshana, Managing Director and Head of Asset Management in India, Renewable Power & Transition, Brookfield said, “Companies are turning to renewables because it lowers their costs, reduces their carbon footprint, and improves energy security. This partnership harnesses the Brookfield ecosystem, with the Brookfield-developed Bikaner solar power plant fulfilling the renewable energy needs of Brookfield Properties. We remain committed to offer tailored solutions and being the partner of choice for Indian corporates in achieving their sustainability goals.”

Brookfield Properties has partnered with its Bikaner Solar Power Project to achieve its sustainability goals. This collaboration provides occupiers with a sustainable and cost-effective energy solution directly to their premises, without additional contracting or operational expenses. The partnership benefits the environment while ensuring transparency and compliance with sustainability commitments.

Brookfield’s Bikaner Solar Power Project, a 550 MWp facility, is one of the largest ISTS-connected renewable energy parks in India. The project’s power output will serve the Commercial & Industrial (C&I) segment. Funding for the Bikaner project was provided by the Brookfield Global Transition Fund (BGTF I), the world’s largest fund focused on accelerating the global transition to net-zero carbon emissions. Brookfield has invested in platforms that collectively hold over 25 GW of wind and solar assets in operation, construction, and development, the statement said.