Sustainiam Onboards 400 MW Renewable Assets to Generate Carbon Credits

Sustainiam has onboarded 400 MW of renewable assets from Brookfield Asset Management to generate carbon credits. The agreement involves 50 wind projects across several Indian states and spans five years. Sustainiam aims to facilitate green energy practices and trade carbon credits through its in-house exchange.

Sustainiam announced on Monday the onboarding of 400 MW renewable assets from Brookfield Asset Management to generate carbon credits under a new agreement.

A business entity or group earns carbon credits by decarbonising operations, a market that is expanding globally. "We have onboarded a portfolio of 400 MW renewable assets from Brookfield Asset Management for the registration, issuance, and trading of International Renewable Energy Certificates (I-REC) or carbon credits," said Sapna Nijhawan, Founder and CEO of Sustainiam.

The total capacity encompasses 50 projects, primarily consisting of wind assets in states like Gujarat, Tamil Nadu, Karnataka, and Rajasthan, according to Nijhawan in a telephonic interview with PTI. The agreement is for five years.

Under the contract, Sustainiam will assess green and clean energy practices at the assets to generate carbon credits. Additionally, the CEO noted, Brookfield will be able to trade these credits via Sustainiam's in-house exchange.

Nijhawan expressed that India has significant potential in the carbon credits market, especially as the government takes steps towards net-zero commitments. Business groups are also committed to this cause, as reflected in the growing number of carbon credits generated, she added.

Sustainiam offers user-friendly software to help businesses track carbon emissions and manage carbon credits, simplifying the process to enable companies to achieve their sustainability goals.

(With inputs from agencies.)