Salesforce and Powertrust sign groundbreaking deal to scale high impact clean energy in emerging markets
14th February 2023
Today at GreenBiz23, Powertrust announced it will supply Salesforce with high impact renewable energy from new projects built through its global network of small scale developers in emerging markets.
In 2021, Salesforce set an ambitious commitment to match 100% of the electricity it uses with renewable energy. This pioneering initiative will not only contribute to decarbonizing the electricity sector, but also maximize the climate and social impact of their renewable energy procurement. Powertrust’s deal with Salesforce unlocks much-needed clean energy investment in emerging markets where energy access is a key issue and where high-carbon fuels are commonplace. “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, head of power sector decarbonization, Salesforce.
Salesforce announced their purchase of 35,000 megawatt hours (MWh) per year of distributed renewable energy over eight years from 2023. This high impact agreement generates up to $65 million investment in new solar capacity, avoiding emissions of over 50,000 tonnes of CO² each year, and providing thousands of people access to electricity for the first time.
Powertrust’s project portfolio with Salesforce covers Brazil, India, Ghana and South East Asia, and is aggregated from solar projects at the heart of local communities, powering hospitals, farms or schools.
Using Powertrust's proprietary digital platform, these projects are sourced and certified via the newly launched distributed renewable energy certificates (D-REC) standard. The Powertrust platform provides the aggregation, transparency, and accountability that make it possible for corporations to access renewable projects they couldn’t before.
“Salesforce was instrumental in the development of this innovative procurement approach. However, the impact of this commitment goes far beyond Salesforce's purchase. Companies across the globe have an appetite for high impact renewable energy purchases and can't find the supply they need. Now, as demonstrated by Salesforce, companies can open up new sources of supply while maximizing social impact." commented Nick Fedorkiw, CEO, Powertrust.
A solar plant built and operated by E-Hands Energy that is replacing diesel generators at a charity eye hospital in northern India.
Photo credit: E-Hands
The Powertrust - Salesforce agreement marks an important milestone in renewable energy procurement for corporations. Supporting small scale renewable project developers represents a pioneering way for companies to meet their climate commitments while maximizing the social impact of their renewable energy purchases.
Powertrust is the world’s leading supplier of high impact renewable electricity in emerging markets. Powertrust uses its proprietary digital infrastructure and the global D-REC standard to provide end-to-end procurement, certification, and analytics to its customers. Powertrust bridges the gap between small scale distributed energy in emerging markets and corporate global sustainability goals. www.powertrust.com
Salesforce, the global CRM leader, empowers companies of every size and industry to digitally transform and create a 360° view of their customers. For more information about Salesforce (NYSE: CRM), visit: www.salesforce.com.
Learn how Powertrust is sourcing high-impact renewables in emerging markets.
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Powertrust is fulfilling Salesforce’ purchase of 35,000 MWhs of high impact renewable energy via distributed renewable energy certificates, (D-REC). The D-REC Standard is an open source market instrument that allows certification of small scale RE generation assets and was developed by the D-REC Initiative.
Powertrust and South Pole Carbon Asset Management, launched the D-REC Initiative in 2020, as a not-for-profit, multi-stakeholder initiative to create a global market for distributed renewable energy by developing a new internationally recognised mechanism, the Distributed Renewable Energy Certificates, (D-REC) to certify and value distributed renewable electricity projects.
The initiative was funded by the EnAccess Foundation, the Shell Foundation, Good Energies Foundation, GIZ, Swiss Development Corporation, Signify Foundation, International Finance Corporation, FCDO (UKAID), US Agency for International Development, and British International Investment.