Todae Solar has landed what is likely to be one of the largest rooftop solar installations in Australia – a 1.87MW expansion of the array on top of the Green Hills shopping centre in Sydney, as owner Stockland aims for 12.3MW of rooftop solar across its portfolio.
Stockland has already installed 2.3MW on the rooftops of the shopping centres it owns, including the then record installation of 1.22MW on the Shellharbour centre in southern NSW (also by Todae Solar).
The 12.3MW of rooftop solar to be ultimately installed on 10 shopping centres will generate around 17GWh of solar a year. The installation is expected to cost a total of $23 million, and is the largest rollout of its kind in Australia.
“We built the first system for Stockland,” Todae Solar CEO Danin Kahn said in a statement. “We are now seeing systems getting larger and the business case improving so it’s exciting for us to continue to partner with Stockland on their journey.”
Stockland says it has installed more solar panels than any other diversified property company listed in Australia, and expects to get an average yield of 11.6 per cent on its investment.
“Investing in technology like solar energy is not only environmentally sustainable, it also makes good business sense,” CEO Mark Steinert said in a statement.
“Our forecast average yield over a 10 year period is 11.6 per cent on capital invested, generating strong shared value for both our investors and our communities.”
Stockland has a target of cutting its “carbon intensity” of its office and retail assets by 60 per cent from 20016 to 2025.
“We are 100% committed to investing in sustainable energy. We’re extremely proud to be setting a new standard in solar for Australian property which will help create clean, green energy for our retailers, our customers and the communities we operate in,” CEO Mark Steinert said in a statement.
“We’ve already invested more than $4.5 million in successful solar projects at four of our shopping centres in NSW and this project will extend our reach across 10 of our centres on the east coast.”
Stockland is also installing Tesla Destination Chargers across 31 Stockland shopping centres – one of the largest Australian roll outs to date – at a cost of $200,000.
Stockland has a target of cutting its “carbon intensity” of its office and retail assets by 60 per cent from 20016 to 2025.
Stockland’s solar rollout will be across the following centres:
- Stockland Caloundra, Qld
- Stockland Merrylands, NSW
- Stockland Hervey Bay, Qld
- Stockland Bundaberg , Qld
- Stockland Traralgon, Vic
- Stockland Burleigh Heads, Qld
- Stockland Point Cook, Vic
- Stockland Cairns, Qld
- Stockland Green Hills, NSW
- Stockland Wendouree, Vic
Giles Parkinson is founder and editor of One Step Off The Grid, and also edits and founded Renew Economy and The Driven. He has been a journalist for 35 years and is a former business and deputy editor of the Australian Financial Review.
