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

Source: The Guardian

Wesfarmers has secured a $100 million loan from the Australian government’s Clean Energy Finance Corporation (CEFC) to install additional solar panels, battery storage systems, and EV charging stations across its retail chains, including Bunnings and Officeworks.

CEFC CEO Ian Learmonth expressed hope that this investment in high-profile retail sites would set off a broader movement in the commercial sector, which has traditionally lagged behind residential properties in rooftop solar adoption. The funding, repayable over seven years at a competitive interest rate, is intended to accelerate Wesfarmers’ carbon reduction initiatives.

“As a major Australian company with widely recognized brands, we’re helping them build a strong business case for rooftop solar, battery storage, energy efficiency upgrades, and EV chargers,” said Learmonth.

He noted that many commercial and industrial buildings have underutilized roof space for solar, often due to structural limitations or complex ownership and leasing arrangements. In this case, the CEFC is able to work directly with Wesfarmers, which owns and operates the sites.

The CEFC is a government-backed green bank with access to $32 billion in capital to help finance projects that support decarbonization.

Australia’s retail sector contributes to half the energy consumption in commercial buildings and about 5% of national emissions. The CEFC believes that installing solar and batteries at retail locations can not only cut emissions but also help stabilize the power grid by storing solar energy for use during peak demand periods.

Richard Lovell, CEFC Executive Director, emphasized the value of using existing store infrastructure to support clean energy:

“Wesfarmers continues its decarbonization strategy by deploying renewable energy generation and storage across its buildings—critical tools for managing energy demand.”

Wesfarmers has committed to achieving net-zero direct emissions by 2030 for its businesses including Bunnings, Officeworks, and WesCEF, and to sourcing 100% renewable electricity by the end of 2025.

Part of the CEFC loan will also fund a feasibility study into decarbonizing sodium cyanide production at WesCEF, a chemical used in gold mining.

Work on upgrading and installing new infrastructure across Bunnings and Officeworks sites is expected to wrap up by the end of 2025.

Wesfarmers CFO Anthony Gianotti welcomed the partnership, saying:

“We’ve long approached our business operations with climate consciousness and are committed to reducing our environmental footprint.”