Jul. 21, 2011 (Canada NewsWire Group) --
- New store in Kemptville, Ontario is 75% more efficient than those built in 2010
- Rooftop solar installations on 40 Ontario stores to be completed by end of 2013
TORONTO, July 21, 2011 /CNW/ - The opening of the most energy-efficient Canadian Tire store to date and the start of forty rooftop solar installations are the latest examples of Canadian Tire Corp., Limited's (CTC, CTC.a) long-standing strategy to incorporate environmental performance into everyday business operations and make its buildings more sustainable.
"We're very excited to see some of our large-scale sustainability initiatives in action," said Stephen Wetmore, President and CEO, Canadian Tire Corporation. "Using less energy and cleaner energy is a large part of our sustainability strategy and is the key to reducing the environmental footprint of our day-to-day operations."
In 2010, Canadian Tire set a goal to develop, build and open a new prototypical store design that was 75% more efficient than current models by the end of 2011. The target was achieved in May, with the opening of its store in Kemptville, Ontario, which consumes a remarkable 9.7 ekWh/sq ft (unit of energy usage for gas and hydro in kilowatt hours), versus 17.8 consumed in existing stores. The initiatives applied make it Canadian Tire's most energy-efficient store to date, and possibly the most energy-efficient big box retail store in North America.
"Canadian Tire is demonstrating leadership in sustainable energy development and building management," said Bob Oliver, Chief Executive Officer, Pollution Probe. "The Kemptville store will use just a fraction of the energy consumed by other buildings in the retail sector, according to government statistics. We hope that other retailers will be inspired by Canadian Tire's achievement and move to implement similar solutions in their own stores."
In addition, installation of rooftop solar systems on 16 Canadian Tire stores is underway and will be operational by the end of this year, with a further 24 scheduled for completion by the end of 2013. The renewable energy generated by these systems will be fed into the electrical grid and, when all 40 sites are complete, will produce enough renewable electricity to power 1,000 average-sized Canadian homes annually for twenty years.
Stores in the Greater Toronto Area will be the first to see the rooftop installations; the program will then expand to include stores in Waterloo, Windsor, and Kenora.
Canadian Tire worked with MS Solar Solutions Canada ULC, a wholly-owned affiliate of Morgan Stanley, who has provided financing for the rooftop solar systems. This arrangement allows Canadian Tire to realize its goal of generating renewable energy for the local community, without any capital expenditure.
"Solar energy generation is good for the environment, it's good for our business, and with our off-grid Blue Planet solar products available in our stores, customers can benefit at their home and cottage as well," said Tyler Elm, VP, Business Sustainability, Canadian Tire Corporation. "Customers have told us that they want to use more environmentally-preferable products, but want their retailer to do their part as well. We hope our work encourages customers to apply similar solutions in their own homes."
ABOUT CANADIAN TIRE
Canadian Tire Corporation, Limited (TSX:CTC.a) (TSX:CTC) is one of Canada's most-shopped general retailers, offering everyday products and services to Canadians through more than 1,200 retail and gasoline outlets from coast-to-coast. Our primary retail business categories - Automotive, Living, Fixing, Playing and Apparel - are supported and strengthened by our Financial Services division, which offers such products and services as credit cards, in-store financing, product warranties, and insurance. Nearly 57,000 people are employed across the Canadian Tire enterprise, which was founded in 1922 and remains one of Canada's most recognized and trusted brands.
Image with caption: "(l-r) Bob Oliver, CEO, Pollution Probe, Stephen Wetmore, President and CEO, Canadian Tire Corporation, Peter Oliver, Canadian Tire Dealer, Lakeshore and Leslie (Toronto), display a sampling of off-grid solar products available in stores in celebration of the first of 40 Canadian Tire stores to have a rooftop solar system installed. (CNW Group/Canadian Tire Corporation, Limited)". Image available at: http://photos.newswire.ca/images/download/20110721_C6690_PHOTO_EN_1574.jpg
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