Brookfield Properties is making significant strides in its sustainability journey by harnessing renewable energy from its Bikaner Solar Power Project. This landmark initiative marks the first partnership under the Inter State Transmission System (ISTS) bilateral arrangement in India, enabling Brookfield’s occupiers in the Delhi NCR to source 40% of their energy from renewable sources. This transition is being implemented across four key campuses—Candor TechSpace Sector 48 and 21 in Gurugram, alongside Sector 62 and 135 in Noida.
The move is poised to have a substantial environmental impact, with projections indicating a reduction of over 20,000 metric tons of CO2 emissions annually. To put this into perspective, this reduction is equivalent to removing approximately 4,300 cars from Indian roads each year. Such figures highlight not only the potential for significant carbon savings but also underscore Brookfield’s commitment to corporate social responsibility and sustainable development. This partnership is not merely an operational upgrade; it is a strategic alignment with Brookfield’s broader sustainability goals. The initiative provides a sustainable and cost-effective energy solution to occupiers, eliminating the need for additional contracting or operational expenditures. By ensuring transparency and compliance with sustainability commitments, Brookfield is paving the way for a greener future while enhancing the value offered to its tenants.
The Bikaner Solar Power Project boasts a capacity of 550 MWp, positioning it among the largest ISTS-connected renewable energy parks in India. Funded by the Brookfield Global Transition Fund (BGTF I), which focuses on investments aimed at expediting the transition to a net-zero carbon economy, this project reflects a deep commitment to responsible investment practices. The Managing Director of Real Estate in India for Brookfield, emphasised the importance of addressing environmental issues while generating positive outcomes for stakeholders. This collaboration signifies a substantial step towards Brookfield’s ambitious goal of achieving 100% renewable energy usage across its properties by 2027. The growing trend among companies to adopt renewable energy sources stems from a desire to reduce operational costs, lower carbon footprints, and enhance energy security. As MD and head of asset management in India, stated, the partnership leverages Brookfield’s ecosystem to meet the renewable energy needs of its properties effectively.
With over 450 leading tenants in its portfolio, Brookfield Properties is committed to supporting their sustainability goals through innovative solutions. The company’s pledge to reach net zero emissions by 2040 underscores its leadership in sustainable practices within the real estate sector. By providing direct access to traceable renewable energy, Brookfield is not only advancing shared sustainability objectives but also establishing benchmarks for responsible development in India.
