Bunnings, Officeworks and Wesfarmers Energy, Chemicals and Fertilisers (WesCEF) are ramping up their transition to renewable energy, leveraging an ambitious suite of distributed energy resources (DER) to curb greenhouse gas emissions.
The move comes as Wesfarmers, which owns major retail brands across Australia and New Zealand, draws on a $100 million commitment from the Clean Energy Finance Corporation (CEFC) to fast-track decarbonisation initiatives.
The CEFC-backed investment will support the deployment of DER across select Wesfarmers businesses, including:
- Rooftop solar installations
- Battery storage solutions
- Comprehensive energy efficiency upgrades
- A pilot program for smart electric vehicle (EV) charging infrastructure
- A study aimed at accelerating decarbonisation at WesCEF
By harnessing DER, Wesfarmers aims to bolster its ability to flexibly manage energy demand throughout its retail network.
This proactive stance is expected to boost energy efficiency and expand onsite renewable energy generation and storage.
The company anticipates that select Bunnings and Officeworks locations will feature new or upgraded renewable energy facilities by the end of 2025.
CEFC CEO Ian Learmonth said: “In addition to using its iconic retail sites to produce its own renewable energy, Wesfarmers is also investing in critically required battery storage and energy efficiency technologies so it can better manage the way it uses that energy.
“It’s a practical and speedy approach to cutting its carbon footprint and a welcome step by such a respected Australian business.”
“Many Australians would have enjoyed a Bunnings Saturday sausage sizzle or taken the path to Officeworks for those back-to-school necessities.
“At selected sites, they will soon be able to add vehicle charging to their store visits while enjoying solar-powered air conditioning.”
CEFC Executive Director Richard Lovell said: “Through this investment, CEFC capital supports an active approach to decarbonisation by a major Australian company.”
“By focusing on using its existing building assets to support renewable energy generation and energy storage, which are crucial for energy demand management, Wesfarmers continues to execute its active decarbonisation strategy to reduce its direct emissions.
“This market-leading approach also has the potential to deliver broader benefits, strengthening the Australian energy market by increasing the deployment of clean energy resources, which can help stabilise the grid and increase energy efficiency.”
The retail sector is among the most energy-intensive industries in Australia, accounting for around 50 per cent of energy use in the commercial property sector and approximately 5 per cent of the nation’s greenhouse gas emissions.
Battery storage, Virtual Power Plants, and EV smart charging are seen as key technologies to help manage grid demand and reduce the need for large-scale utility investments.
Furthermore, businesses that fail to adapt to climate risks could face losses of up to 7 per cent of their annual profits by 2035, according to the World Economic Forum.
This latest CEFC financing builds on Wesfarmers’ earlier sustainability-linked bond, which saw the CEFC invest $25 million in 2021 to support emissions reduction targets in Wesfarmers operations.
Wesfarmers’ accelerating clean energy rollout demonstrates not only sector leadership but also the growing momentum for emissions cuts and innovative energy solutions across Australian retail.
