Coles Group has reinforced its commitment to be powered by 100 per cent renewable electricity by FY25 (2025) and to deliver net zero greenhouse gas emissions by 2050 by signing two major agreements with leading renewable energy companies Engie and Neoen.
The leading retailer highlighted the progress already made on renewable power purchase agreements, onsite solar and large-scale generation certificate (LGC) deals, adding it has committed to purchasing more than 70 per cent of the renewable electricity required to meet its FY25 target, once the agreements commence.
Under the agreement with Engie – the largest independent power producer in the world – Coles will purchase LGCs generated from ENGIE’s Willogoleche Wind Farm and Canunda Wind Farm in South Australia.
Coles will also source a portion of its national electricity requirements through a separate LGC agreement with leading French energy producer Neoen, and its portfolio of renewable power plants located across New South Wales, Queensland, Victoria and South Australia.
Coles chief sustainability, property and export officer Thinus Keeve said the retailer is well on the path to deliver on each of its ‘Together to Zero’ greenhouse gas emissions and renewable electricity targets after becoming the first major Australian retailer to commit to buying renewable electricity through a power purchase agreement in 2019.
“As part of our ambition to be Australia’s most sustainable supermarket we’ve launched our new ‘Together to Zero’ sustainability strategy with a long-term aspiration towards zero emissions, zero waste and zero hunger,” he said.
“The agreements are with some of the world’s top renewable electricity companies and show we’re taking a leading role in driving climate action in Australia.
“It puts us in a great position to be powered by 100 per cent renewable electricity by the end of FY25,” added Keeve.
Engie ANZ executive general manager energy management, Andrew Hyland, added the company was pleased to be supporting Coles to take significant steps towards its ambition of being Australia’s most sustainable supermarket.
“Our long-term partnership with Coles will also enable further investment in new renewable energy projects across Australia, as Engie accelerates the transition to a carbon-neutral economy.”
Louis de Sambucy, Neoen Australia’s managing director, also commented, adding: “We are delighted to be partnering with such a prominent Australian company like Coles, as it makes another step towards its target of 100 per cent renewable energy by 2025, underscoring its contribution to the broader energy transition.
“This is Neoen’s first portfolio-wide deal in Australia, an exciting advance which demonstrates the complementarity of our assets and the strength of our long-term owner operator business model.”