Aeon to shift malls to solar power without shouldering initial costs

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https://asia.nikkei.com/Business/Companies/Aeon-to-shift-malls-to-solar-power-without-shouldering-initial-costs

Aeon to shift malls to solar power without shouldering initial costs

Japanese retailer to lease roofs to electricity providers and buy juice from them

YOSHIHIRO HARA and YUKINORI HANADA, Nikkei staff writers
April 17, 2019 20:25 JST

TOKYO -- Japanese retail conglomerate Aeon will invite solar power providers to lease the rooftops of its malls and install panels to supply electricity to the stores below.

The plan, a first for a large Japanese retailer, is to lease out the rooftops for free to four providers, including MUL Utility Innovation, a leasing affiliate of Mitsubishi UFJ Financial Group. The solar companies will install the equipment at their own cost, but they will be able to charge Aeon rates as high as big utilities, allowing them to recoup the expenses.

Aeon views the program as a way to reduce its carbon dioxide emissions without having to make a large initial investment. The group intends to start with a commercial complex in western Japan's Shiga Prefecture, and expand the program to 200 malls and supermarkets over the next few years.

The move by one of the country's largest retailers could set an example for rivals, as companies come under increasing pressure to minimize their environmental footprints.

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