Commercial, Solar, Sourcing Renewables - February 14, 2023
Salesforce to Buy RECs in Emerging Markets
Salesforce announced the purchase of 280,000 megawatt hours (MWh) of renewable energy certificates (RECs) from small, distributed energy projects over the next eight years to accelerate clean electricity access in emerging markets.
The software company contracted with Powertrustto leverage Distributed Renewable Energy Certificates (D-RECs) – a financial mechanism that enables organizations to accelerate deployment of capital for small-scale, distributed renewable projects.
Salesforce noted that emerging countries have been largely excluded from corporate purchasing for a number of reasons, including difficulty aggregating and certifying multiple small-scale projects.
“Nearly 95% of corporate renewable energy purchases today take place in North America and Europe. We need to ensure the rest of the world isn’t left behind,” said Megan Lorenzen, who leads power sector decarbonization for Salesforce in a statement.
Salesforce’s D-RECs purchase will focus on procuring projects in non-traditional markets to help deliver social and environmental benefits to communities. Potential projects within this portfolio include:
- Brazil: A project that aims to replace old diesel generators with a solar-powered microgrid for a remote community along the Amazon River, reducing fuel consumption by more than 50% and benefitting around 1,000 people.
- India: A solar-powered microgrid in Nagaland where an isolated mountain community will receive electricity for the first time.
- Sub-Saharan Africa: A solar and storage installation at a hospital that will help improve electricity reliability while controlling rising electricity costs.
- Southeast Asia: A solar microgrid in the Borneo region of Malaysia, which is home to 72% of rural Malaysians who lack access to electricity. The project will pair a solar system with a micro-hydro installation to provide reliable power.
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