Wesfarmers is accelerating its renewable energy rollout across its operations, backed by a $100 million investment from the Clean Energy Finance Corporation (CEFC).
The funds will support a broad deployment of distributed energy resources (DER), including rooftop solar, battery storage, smart EV charging, and energy efficiency upgrades at Bunnings, Officeworks, and Wesfarmers’ Energy, Chemicals and Fertilisers division.
The initiative marks a significant expansion of Wesfarmers’ decarbonisation strategy, focused on using its retail footprint to generate and store renewable energy.
Installations are already underway, with selected Bunnings and Officeworks sites expected to feature upgraded DER systems by the end of 2025.
“This market-leading approach also has the potential to deliver broader benefits, strengthening the Australian energy market by increasing the deployment of clean energy resources, which can help stabilise the grid and increase energy efficiency,” said Richard Lovell, CEFC Executive Director.
The CEFC finance enables Wesfarmers to harness its property assets for clean energy generation, supporting both environmental goals and energy demand management.
In addition to DER, the funding supports a study aimed at accelerating emissions reductions in the industrially intensive WesCEF business.
The retail sector is among the most energy-intensive in Australia, consuming nearly half the energy used in commercial properties and contributing about 5 per cent of the nation’s greenhouse gas emissions.
Wesfarmers’ plan to use DER technologies like batteries and smart charging infrastructure aligns with broader efforts to ease pressure on the grid and avoid further utility-scale investments.
“Wesfarmers is a market leader in retail, with its Bunnings and Officeworks brands well-loved Australia wide. We’re proud to be working with Wesfarmers as it takes a proactive approach to its emissions profile,” said CEFC CEO Ian Learmonth.
“It’s a practical and speedy approach to cutting its carbon footprint and a welcome step by such a respected Australian business.”
Wesfarmers Chief Financial Officer Anthony Gianotti reinforced the company’s long-standing climate focus.
“We have long managed our businesses with climate and carbon awareness and we are committed to continuing to take action to reduce our impact on the environment. We are proud to be working again with the CEFC to accelerate our decarbonisation activities,” he said.
This is the CEFC’s second major collaboration with Wesfarmers, following a $25 million investment in sustainability-linked bonds in 2021 tied to emissions targets.
The current investment supports DER not only as a decarbonisation tool but also as a key enabler of grid flexibility and resilience in Australia’s energy transition.