Stockland Solar installs – Australia’s biggest diversified property company have announced that they will partner with Todae solar to roll out Australia’s largest ever property solar project at 10 of Stockland’s shopping centres.
Stockland Solar Shopping Centres
Their September press release noted that the $23.5 million investment will see Stockland install more than 39,000 PV panels, on roof space on retail centres in areas such as Merrylands, Burleigh Heads, Point Cook and Wendouree in Queensland, New South Wales, and Victoria. They are aiming to install 12.3MW across 10 shopping centres, at a cost of $23m a year. This will generate around 17GWh of solar per annum.
Mark Steinert, Managing Director and CEO of Stockland discussed their plan in the release, saying:
“We are 100% committed to investing in sustainable energy. We’re extremely proud to be setting a new standard in solar for Australian property which will help create clean, green energy for our retailers, our customers and the communities we operate in.
“We’ve already invested more than $4.5 million in successful solar projects at four of our shopping centres in NSW and this project will extend our reach across 10 of our centres on the east coast.”
Combined, the project is expected to produce 17.2 GWh of energy every year, the equivalent to driving an electric car around the world 2,381 times.
Todae will help Stockland install solar at Stockland Shellharbour, Stockland Wetherill Park and Stockland Nowra shopping centres in NSW. They’ll also expand an installation at Stockland Green Hills. To date, Stockland solar have generated over 2.3 million kWh of energy – the company owns and operates the most green star rated shopping centres in Australia.
“Investing in technology like solar energy is not only environmentally sustainable, it also makes good business sense. Our forecast average yield over a 10 year period is 11.6 per cent on capital invested, generating strong shared value for both our investors and our communities,” Mr Steinert said.
This solar installation will bring the company closer to its target for a 60% carbon intensity reduction for its office and retail assets over the FY06-FY25 period.
Last year Stockland was recognised as the most sustainable real estate company in the world in the Dow Jones Sustainability Index (DJSI) and achieved Global Sector and Regional Sector Leader status in the Global Real Estate Sustainability Benchmark (GRESB) survey in the category Diversified – Retail/Office.
Stockland is also going to spend $200,00 on installing Tesla Destination Chargers across 31 Stockland shopping centres, according to One Step Off The Grid.
Stockland’s shopping centre solar rollout will be across the following centres:
- Stockland Caloundra, Qld
- Stockland Merrylands, NSW
- Stockland Hervey Bay, Qld
- Stockland Bundaberg , Qld
- Stockland Traralgon, Vic
- Stockland Burleigh Heads, Qld
- Stockland Point Cook, Vic
- Stockland Cairns, Qld
- Stockland Green Hills, NSW
- Stockland Wendouree, Vic
This represents another massive step forwards for commercial solar and we are sure we’ll see many other companies follow Stockland’s lead and start generating as much of their own power as they can.