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Brookfield Properties Transitions Mid-Atlantic Office Portfolio to Nuclear Power
Brookfield Properties has transitioned its Mid-Atlantic office portfolio to be powered by electricity sourced from regional nuclear power plants.
The first-of-its-kind deal is the largest direct purchase of electricity and Emissions Free Energy Credits (EFECS) for the commercial real estate industry. The transition reduces the portfolio’s greenhouse gas emissions from purchased energy by over 85%.
The transition is backed by a contract with Calpine Energy Solutions to source 100% of the properties’ expected electricity usage, approximately 100,000 MWh, from nuclear plants within the local PJM grid, including facilities equipped by Westinghouse, a Brookfield Asset Management portfolio company.
The transition to clean energy electricity in the Mid-Atlantic region builds on multiple agreements Brookfield Properties has already executed in New York to power its marquee office towers with renewable electricity sourced from hydropower facilities that are owned and operated by Brookfield Renewable.
