More than 260 sites owned by The Warehouse Group are set to be powered by solar farms as the group inks a long-term agreement with Lodestone Energy.
The agreement will apply to all sites where The Warehouse Group purchases electricity directly, including those occupied by The Warehouse, Warehouse Stationery, Noel Leeming, Torpedo7 stores and its distribution centres and store support offices.
Working with a retail service provider, Lodestone Energy will implement metering and billing techniques to enable the company's solar farm production to offset the demand of The Warehouse Group's stores from Kaitaia to Invercargill.
The Warehouse Group chief executive Nick Grayston said the company aimed to reach zero emissions in its operations by 2040.
"Moving to solar electricity will help us achieve this goal years in advance," Grayston said.
"We'll gradually transition our Aotearoa New Zealand sites to Lodestone Energy solar farms and by the end of December 2026, we anticipate we'll have eliminated close to 100 percent of all our New Zealand electricity emissions," he said.
"This will avoid around 5300 tonnes of CO2 emissions a year."
Lodestone Energy managing director Gary Holden said the agreement would deliver flexibility, with a competitive pricing structure for The Warehouse Group via an innovative path for power purchase agreements.
"The Warehouse Group's operational hours are a great match for solar energy," Holden said.
"When their stores are at their busiest, the sun's energy is at its peak," he said.
"With the sophistication of the New Zealand market, this arrangement is akin to locating solar panels on top of The Warehouse Group sites but at a lower cost, with faster deployment and without the limitation of the physical space of a rooftop."