Hindustan Unilever partners with Brookfield to set up solar energy park

Hindustan Unilever Limited announced a partnership with Brookfield Brookfield to set up a 45 MW capacity solar power park in Rajasthan. This will help HUL move towards net zero. The project will be developed on the site of Brookfield's solar park, which will be launched as a part of the Brookfield Global Transition Fund.The Board of Directors of HUL approved equity investment of 27.73% in Transition Sustainable Energy Services One Private Limited, a special purpose vehicle incorporated by leading global company Brookfield.The project is in line with the Government of India's commitment at COP26 to reach 500 GW of non-fossil energy capacity by 2030, and will leverage the cluster captive model for renewable energy procurement.

HUL is well placed to achieve Scope 1 and 2 emission reductions in line with its commitment to zero emission in its operations by 2030. HUL is also committed to net zero emissions for all its products from sourcing to point of sale by 2039. This initiative will help HUL to address the challenge of non-green energy consumption at its and associate manufacturing units. It can also be extended to strategic suppliers in the next phase.

HUL CEO and MD Rohit Jawa said collaboration is key to achieving net zero commitment. The proposed green energy partnership is a step in the right direction. That it will pave the way for more transformative partnerships that align with environmental and economic sustainability and help stakeholders across the value chain.

Nawal Saini, Managing Director, Renewable Power & Transition, Brookfield, said, "We are excited to forge this partnership, wherein we will be supplying large-scale green energy to HUL and its suppliers from a single location in Bikaner, which is a part of our company. Large solar park of 550 MW. The park is dedicated to accelerating the decarbonization goals of both government and businesses in India.

About Brookfield Asset Management:

Brookfield Asset Management is a leading global alternative asset manager with approximately $850 billion of assets under management. We invest customer capital for the long term, focusing on real assets and essential services businesses, which are the backbone of the global economy. We offer a range of alternative investment products to investors around the world, including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies, and private wealth investors.

Brookfield operates Brookfield Renewable Partners, one of the world's largest publicly traded, net-play renewable energy platforms, with approximately 31,300 MW of installed renewable energy capacity and a development pipeline of approximately 134,400 MW of renewable energy. and assets 13 million metric tons per year ("MMTPA") of carbon capture and storage, 3 million tons of recycled materials and 4 million metric million British thermal units of renewable natural gas production annually.