Australian government loans $100m to install EV chargers and solar panels at Bunnings and Officeworks stores | Australia news

Wesfarmers got a $ 100 million loan with the government Clean energy financing company To install more solar panels, batteries and EV in Bunnings and Officeworks.

CEFC CEO, Ian Leermth, said he hoped to help the finance package in prominent stores to create a “ripple effect” through the commercial sector, as the absorption of solar energy on the surface was slower than residential property.

The financing package, which will be paid by Wesfarmers over a period of seven years at a competitive interest rate, will help accelerate the carbon removal plans in the group.

He said: “As a pioneering Australian company with these names, home brands, we can provide them with competitive financing that allows them to meet a working state to provide higher energy, battery storage, and various initiatives of energy efficiency and put EV shipments.”

“There is a possible growth in the commercial and industrial sectors. When people see Bunnings and Office Works they do this, it adds a ripples as other large companies can be affected by seeing what these companies do, seeing their parking lots with EV chargers.”

He said that large industrial ceiling spaces were not well used with solar panels such as families, and sometimes because the surfaces are structurally not strong enough, or the agreements were complicated between tenants and owners of buildings.

He said: “This is a great opportunity where we have the owner and the operator – we can work with them.”

CEFC, with access to $ 32 billion in government money, is a green bank that provides financing and loans to accelerate carbon removal.

The retail sector in Australia represents half of the energy use for all commercial real estate and 5 % of the country’s emissions.

CEFC said that solar and batteries can also help install the country’s electricity network.

For example, the storage of solar electricity in batteries can help to use it in the evening peaks, even in getting rid of energy demand for electricity use times.

“By focusing on the use of current construction assets to support renewable energy generation and energy storage, which is necessary to manage energy demand, Wesfarmers continue to implement its active strategy in the carbon strategy to reduce its direct emissions,” said CEFC CEO, Richard Loville.

Bunnings, Officeworks and Wescef are all goals to reach the net zero direct emissions by 2030, and the use of renewable electricity by 100 % by the end of 2025.

Wesfarmers will also use part of CEFC financing to finance a study in its chemical work, energy and fertilizers, Wescef, to cancel the production of sodium cyanide – a chemical that is used in gold production.

The work is expected to be completed to install and upgrade facilities at Bunnings and Officeworks sites by the end of this year.

Anthony Gianotti, financial manager of Wesfarmers, said the company welcomed the support of CEFC. “We have long been able to work with climate and carbon awareness, and we are committed to continuing to take measures to reduce our impact on the environment.”