Kingfisher pledges $75 million renewables investment

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Following the successful installation of a 250 kW rooftop solar PV system at Screwfix’s head office and contact center in Yeovil, England, this summer, which is now supplying a third of the center’s power, Kingfisher has decided to invest £50 million in renewables, predominantly solar. The plan is reduce energy consumption from the national grid by 10% in the next two years.

According to a statement released, Kingfisher will begin the roll out of solar systems on its distribution centers and selected stores in both the U.K. and France "immediately," while the overall aim is to install solar in the majority of the ten countries it operates in. Currently, it is installing solar at the Screwfix distribution center in Trentham. A spokesperson for the company tells pv magazine that solar will be installed initially in France and Spain. They added, "Our £50m investment is the first stage of our renewables investment."

By 2050, Kingfisher intends for every one of its 1,200 stores and customers’ homes across Europe and Asia to be net positive. It has already reportedly achieved its 2016 target of reducing its property portfolio’s energy intensity by 17%.

"We hope our renewables investment helps demonstrate to the world’s leaders discussing the climate deal this week that leading businesses want a sustainable future, and to see the right deal in Paris," stated sustainability director, Richard Gillies.

A number of businesses have recently taken the step towards renewables, Ikea being one of the most active in this area. Against the backdrop of the Paris talks, this week notable announcements include the establishment of the Breakthrough Energy Coalition by a number of high profile billionaires aiming to invest their cash in supporting renewables, and a report by the Solar Energy Industries Association (SEIA), which found that U.S. companies are continuing to install solar at a record pace, with Walmart leading the pack. The RE100 initiative has also welcomed a number of new participants looking to commit to 100% renewable electricity, and the American Business Act on Climate Pledge has attracted a total of 154 companies.

The article was updated on October 10 to include extra details by Kingfisher.