Australia's Vicinity Centres plans USD-21m solar investment
Solar array. Author: Som Energia Cooperativa. License: Attribution 2.0 Generic.
Aussie retail property group Vicinity Centres (ASX:VCX) this week announced it will invest AUD 28 million (USD 21m/EUR 17.6m) in solar installations at five centres across South Australia and Western Australia.
The project involves installing about 39,000 individual solar panels with a combined capacity of 11.2 MW on the rooftops of the centres and across a series of car park shades. The first stage of the scheme includes South Australia’s Castle Plaza, Elizabeth City Centre and Kurralta Park, as well as Western Australia’s Ellenbrook Central and Currambine Central.
In addition to a 2.24-MW solar system, Castle Plaza will use a 500-kWh battery, which will be the biggest one at a shopping centre in Australia.
“The energy generated by the solar and battery systems will be used on-site, reducing reliance on the grid and helping give our retailers and our business a buffer from a volatile energy market,” commented Grant Kelley, Vicinity Centres CEO and managing director.
The company noted that work on the project should begin in May.