SOUTH AFRICA – Retail group, Woolworth has allocated R17.5-million worth of investments to be used in furthering its renewable-energy projects, which are projected to have a payback period of four to five years.
In the allocation, solar power installations will be worth R10.5-million and a renewable-energy agreement of R7.3-million a year at key locations.
The location include its head office and distribution centres in Cape Town, as well as its stores in Phalaborwa Mall, in Limpopo, and Greenacres Shopping Centre, in the Eastern Cape.
The expansion of the solar installations at Woolworths’ head office building increase the solar-energy capacity at the head office to 465 kW, tripling the capacity of the initial pilot completed in 2013.
After this extension, about 11% of the energy requirements at its head office will be met through solar power, including its always-on power-intensive national data centre operating round-the-clock.
“We have a goal to source all our energy from renewables by 2030. Working with the renewable-energy industry, energy traders, retail landlords, government and local municipalities has been crucial in making this shift,” said Woolworths Group Sustainability head Feroz Koor.
“Investing in renewable energy makes excellent business sense. By embracing renewable energy, we are not only enhancing our environmental sustainability, but also ensuring a future-fit retail operation that decouples energy usage from business growth.”
He added that through numerous interventions, including the installation of fridge doors in 348 of Woolworth’s foodmarkets, smart technology and energy efficiency practices across all its stores.
So far, Koor said the retail group has achieved a two-thirds reduction in our stores’ energy intensity over the last 15 years.
Retailers such as Woolworths often face challenges in transitioning to renewable energy as they don’t own the roof housing the stores.
The companies rely on progressive and flexible landlords, like Phalaborwa Mall with whom Woolworths partnered to install a 165 kW grid-tied system on the mall’s roof, thereby generating 30% of the store’s energy needs.
Similarly, at its Greenacres store, in Gqeberha, Woolworths is investing in a 300 kW solar system, benefiting from partial roof ownership of the shopping centre.
Other than sustainability investment, the group has also taken a powerful move to support South Africa’s future with a R2 million investment in 15 young entrepreneurs through its Youth Makers competition.
This initiative, launched in celebration of Youth Month, aims to empower young people and unlock their potential in the business world.
Winners will get a one-year mentorship from Woolworths experts.This invaluable guidance will provide the winners with the knowledge and skills necessary to navigate the complexities of the retail sector and build strong foundations for their businesses.
A boost of R130,000 grant will provide the winners with the resources they need to invest in their businesses, expand their reach, and achieve their entrepreneurial goals.
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