24th September 2024 — Sustainiam, a climate tech startup, India’s fastest-growing carbon management solutions, has successfully onboarded a massive portfolio of 400 MW renewable assets from Brookfield, a global renewable energy powerhouse, for the registration, issuance, and trading of International Renewable Energy Certificates (I-REC). This portfolio primarily consists of wind assets, underscoring Brookfield’s commitment to expanding its renewable energy capabilities in India and beyond.
The 400 MW portfolio, now being processed for I-REC registration through Sustainiam’s issuance and trading platform , will enable Brookfield to tap into the growing demand for renewable energy certificates, ensuring their assets generate verified and tradable I-RECs. This is a crucial step for Brookfield as it expands its operations in India, where it currently oversees more than 25 GW of wind and solar assets, with ambitious plans to scale its renewable energy footprint further.
Sapna Nijhawan, Founder & CEO of Sustainiam, commented on the partnership saying “We are thrilled to collaborate with Brookfield on this significant project. As one of the leading global players in renewable energy, Brookfield’s commitment to sustainability aligns perfectly with Sustainiam’s mission to accelerate decarbonization through cutting-edge technology. The onboarding of this portfolio is a testament to our platform’s capability in streamlining the complex process of I-REC registration and trading, ensuring Brookfield’s renewable energy assets are fully optimized for carbon markets.” With Sustainiam’s platform, Brookfield gains access to real-time tracking and trading of I-RECs, further solidifying their leadership in the renewable energy sector.
Brookfield, known for its focus on renewable assets globally, recently acquired a controlling stake in Leap Green Energy, a prominent player in India’s renewable energy market. The partnership between Brookfield and Sustainiam aims to streamline the carbon credit certification process, making it easier for Brookfield to achieve its decarbonization goals while contributing to global renewable energy transitions.
Sustainiam has already built partnerships with major brands, including Sheraton Hotels & Resorts, ITC Responsible Luxury, WelcomHotel, Cargill, Radisson and Coca-Cola, offering them real-time insights and streamlined solutions for managing and trading renewable energy certificates. The addition of Brookfield to its client portfolio further strengthens Sustainiam’s leadership in the carbon management space.