Woolworths has quadrupled capital investment since last year in cutting energy usage and improving energy efficiency and will increase installation of solar PV panels at supermarkets as it seeks to rein in soaring energy costs. Investments are being made to switch all lighting in stores to LED, improve efficiency in refrigeration and air conditioning, as well as in a new energy management centre, Tony Louka, head of the energy transformation project, told an energy users’ forum in Sydney. Mr Louka wouldn’t reveal the investment involved but described it as “significant”. Brad Banducci, the chief executive of Woolworths, which consumes about 1 per cent of the total electricity generated in Australia, warned of the impact of rising energy costs this year, saying the company is “trying to outrun a bear” amid soaring electricity and gas prices. The company is also investigating direct purchase contracts for renewable energy, through corporate power purchase agreements, and is looking at opportunities for battery storage, Michael Shelley, manager energy and services, told the forum.
Source: www.afr.com
Subscribe to our free mailing list and always be the first to receive the latest news and updates.