Kingfisher Group to invest £50m in renewable energy
The home improvement group Kingfisher has unveiled plans to invest £50 million in renewable energy, as part of a plan to reduce its energy consumption by 10% in the next two years.
The group, which includes B&Q, will rollout solar PV panels on the rooftops of stores and distribution centres across the UK and France, as part of the plans.
Other future renewable energy sources will include air source heat pumps, combined heat and power boilers and new fuel cell generation.
The investment decision was made following the completion of a solar installation at the Screwfix head office and contact centre in Yeovil this summer, which has been performing well.
More than a third of the contact centre’s power is now generated by its solar panel installation.
“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,” said Kingfisher’s Sustainability Director, Richard Gillies.
“This renewables investment is part of our Net Positive journey to transform our business to be a force for good. There’s plenty more we can do but business needs stability and certainty to make these types of long-term investment decisions. That’s why we need leadership in Paris – it’s the key to enabling the consistent national policies and incentives business needs to invest.”
Jamie Hailstone is a freelance journalist and author, specializing in local government, transport and energy issues