Coles Group has signed two renewable energy agreements ENGIE and Neoen as part of its commitment to 100 per cent renewable electricity by FY25.
It follows the company launching its Together to Zero sustainability strategy in March, which said it would deliver net zero greenhouse gas emissions by 2050; the entire Coles Group would be powered by 100 per cent renewable electricity by the end of FY25; and it would reduce combined Scope 1 and 2 greenhouse gas emissions by more than 75 per cent by the end of FY30 (from a FY20 baseline).
Once the new arrangements comment, Coles will be purchasing more than 70 per cent of the renewable energy it needs to meet the FY25 target.
The ENGIE deal will see the retailer buy large-scale generation certificates (LGCs) from its 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 their 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 deals put the company “in a great position to be powered by 100 per cent renewable electricity by the end of FY25”.
ENGIE ANZ executive general manager energy management Andrew Hyland said: “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.”
For Neon, the deal is its first portfolio-wide deal in Australia.
