Retail landlord, Stockland, will roll out the largest property solar project in Australia at 10 of its shopping centres across the country.
With this $23.5 million investment, the diversified property player will cover the rooftops of 10 of its shopping centres with 6.4 hectares of solar panels which will generate 17.2GWh of energy every year.
The project will see Stockland install over 39,000 Photo-Voltaic (PV) panels, comparable in size to more than nine rugby fields, across roof space on retail centres in areas including Merrylands, Burleigh Heads, Point Cook and Wendouree.
“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,” said Mark Steinert, managing director and CEO of Stockland.
Stockland has solar projects installed across Stockland Shellharbour, Stockland Wetherill Park and Stockland Nowra shopping centres in NSW, as well as an existing installation at Stockland Green Hills, which will be expanded as part of this project. These projects have, so far, generated over 2.3 million kwh of energy.
“Investing in technology like solar energy is not only environmentally sustainable, it also makes good business sense,” Steinert said. “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.”
Stockland’s solar project will rollout 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 and Stockland Wendouree, Vic.
Stockland has a target for a 60 per cent carbon intensity reduction for its office and retail assets over the FY06-FY25 period.
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