Brookfield Real Estate and Brookfield Renewable Power & Transition have formed an agreement to build solar and wind farms with battery storage, aiming to provide renewable energy to Brookfield India’s office tenants at par or at a discount to traditional energy costs in most cases. The project will be executed over four years and three phases, with ~200 MW of solar capacity, ~100 MW of wind capacity, and battery storage capacity to provide round the clock power.

This partnership results in:

• Ability to add and replace assets to cover acquisitions and dispositions through master agreement
• Strong tenant alignment in decarbonization ambitions, reducing our scope 3 GHG emissions, and building customer satisfaction
• Participation in the investments reduces cost of operation and boosts the profitability
• Agreement aims at 24-hour renewable power with integration of battery storage

In another instance, in 2023, Brookfield Real Estate executed a programmatic agreement with Brookfield Renewable to install rooftop solar panels on select logistics facilities in the United States. The project leverages over 13 million sf of vacant rooftop space, adding over 130 MW of solar generation capacity, highlighting the extraordinary synergies that exist within the Brookfield Ecosystem.

The arrangement allows our real estate group to receive rooftop leasing rental revenue from Brookfield Renewable Power & Transition, which utilizes the space to install both solar panels and battery storage. The energy generated from the rooftops is sold to Community Solar Programs, decarbonizing the local electricity grid and providing clean, renewable energy for local individuals and businesses to consume. Our logistics group is evaluating the potential to direct a portion of the rooftop-generated energy for onsite use by tenants, contributing to the firm’s decarbonization target.