Real estate developer Brookfield Properties has said tenants in four office campuses it owns in the Delhi-NCR are sourcing 40% of their energy requirements from its 550 MW solar project in Bikaner, Rajasthan, under the interstate transmission system (ISTS) arrangement.

Brookfield said in a regulatory filing that the transition to solar energy will impact tenant spaces in its four office spaces in Gurugram and Noida, which total 1.4 million square feet (MSF).

The move is expected to reduce more than 20,000 metric tons of CO2 annually.

Brookfield Properties is part of Brookfield Group, which invests in renewable energy and transition assets.

Brookfield’s Bikaner solar power project will cater to the energy requirements of consumers in the commercial & industrial (C&I) segment. The equity investment for the project Bikaner was provided by Brookfield Global Transition Fund, which is focused on investments that aim to accelerate the global transition to a net-zero carbon economy while delivering risk-adjusted solid returns to investors.

Brookfield has invested in platforms that comprise a portfolio of over 25 GW of wind and solar assets in operation, construction, and development.

Explaining its decision to shift to renewable energy, the company said, “At the time we acquired Candor TechSpace, two of the Delhi properties in the Gurgaon suburb (G1 and G2) had energy demands that exceeded the grid power supplied by nearly 30%. At the time, the difference was being made up of diesel generators.

“While common in India, there were several reasons why we wanted to move away from this type of power supply. First, diesel generators have high maintenance costs and even higher environmental impacts – including lower efficiency and quality of power – meaning the properties frequently deal with power failures and outages due to generator fatigue. Second, there was a risk that the generators could be overused, and the system could permanently cease due to continuous use versus only being used backup power. Finally, diesel power typically costs 1.5 to 2 times that of traditional grid electricity, which was passed on to tenants,” Brookfield said.

The company undertook a four-year upgrade – in coordination with six local and governmental agencies – to diversify the campuses’ energy supply and reduce operating costs.

Brookfield Properties said it is on track to achieve 100% green power across India’s 55 MSF portfolio by 2027.

In May, Brookfield Asset Management and Brookfield Renewable Partners signed a global framework agreement with tech giant Microsoft to develop over 10.5 GW of new renewable power capacity, such as wind and solar farms, by 2030.

Last December, Brookfield Renewable Partners was among the three companies that emerged as the leading global large-scale solar photovoltaic (PV) project developers in Mercom Capital Group‘s Leading Global Large-Scale Solar PV Developers report released recently.