Portfolio business case

Vicinity Centres: a solar canopy portfolio across your car parks

Vicinity has committed to net zero Scope 1 and 2 by 2030 and has already put $73 million into onsite solar to get there. The roofs are largely built. The car parks are not. We screened Vicinity's centres for large, flat, sealed car parks, then drew and priced several of them to scale, so this is a real look at what the next tranche of onsite generation is worth.
Canyon solar canopy drawn to scale on Harbour Town Gold Coast
Canyon canopy drawn to scale, Harbour Town, Biggera Waters QLD.
28
Centres screened
~53.2 MWp
Portfolio potential
$97-115M
Indicative, ex-GST
~52,000 t
CO2 avoided / yr
You have already proved this works on your own asset. The car park array at Elizabeth City Centre is the largest of its kind in Australia. What has not happened since is a programme. Every centre below has the same flat, sealed, unbuilt surface, and it is the only surface left that can carry real megawatts.

What the canopy does for the asset

Generation where the roof has run out

Onsite capacity across the portfolio has been flat since FY23 while the centre count has fallen. The car park is the only remaining surface that can add real megawatts without buying land.

A Scope 2 lever, not a certificate

Generation on site offsets common-area load directly: mall lighting, HVAC, car park and the EV bays now being added. It is measured, auditable and it sits inside the reporting boundary.

Shade that lifts the centre

Covered parking is a visible shopper amenity: protection from sun, heat and hail, a better arrival, and support for dwell time, foot traffic and tenant retention. In Adelaide, Brisbane and the Gold Coast that shade is worth something on its own.

A platform, not just panels

The same structure carries LED lighting, security and CCTV, EV charging and battery. Lake Haven and Broadmeadows already have storage installed. The canopy is what fills it.

Built for Vicinity's own targets

Vicinity set its Net Zero 2030 target in 2019, covering Scope 1 and 2 across the common mall areas of its wholly-owned centres, and supported it with a $73 million investment in onsite solar. That programme is complete. At FY25 the portfolio reported 33.1 MW across 21 centres, against 33.49 MW across 22 centres two years earlier. Net Zero portfolio emissions intensity improved 2% year on year and energy intensity was flat. With five years left, the next tranche of generation has to come from somewhere new.

At the same time, load is being added. There are now 116 EV charging spaces across 28 centres under the ENGIE partnership, and battery storage went live at Lake Haven and Broadmeadows Central in April 2025. Vicinity's own climate work names rapid adoption of renewables as a material opportunity. A car park canopy is the only way to add several megawatts per centre on land Vicinity already owns, and it is hard, disclosable infrastructure at the point where mandatory climate reporting begins.

Drawn and priced on your own car parks

These are not desktop guesses. Each canopy below was drawn to scale on the site's actual car park and priced through our engine. Figures are preliminary, ex-GST, subject to site assessment. Across these 3: 11.2 MWp, about 16.7 GWh a year generated on site, for roughly $19.4M of base scope.

Harbour Town Gold CoastBiggera Waters, QLD
Prelim PP-VIC-002
Canyon canopy drawn to scale on Harbour Town Gold Coast
5.34 MWpSystem size
~8.01 GWh/yrGenerated on site
22,229 m²Canopy coverage
6,860Solar modules
$9.09MBase scope, ex-GST ($1.70/W)
$9.49MWith EV charging, ex-GST
Grand PlazaBrowns Plains, QLD
Prelim PP-VIC-003
Canyon canopy drawn to scale on Grand Plaza
3.21 MWpSystem size
~4.82 GWh/yrGenerated on site
13,375 m²Canopy coverage
4,080Solar modules
$5.58MBase scope, ex-GST ($1.74/W)
$5.97MWith EV charging, ex-GST
ColonnadesNoarlunga Centre, SA
Prelim PP-VIC-001
Canyon canopy drawn to scale on Colonnades
2.70 MWpSystem size
~3.92 GWh/yrGenerated on site
11,252 m²Canopy coverage
3,488Solar modules
$4.73MBase scope, ex-GST ($1.75/W)
$5.12MWith EV charging, ex-GST
Drawn over two blocks of the main lot. Colonnades has enough remaining surface to carry a second and third stage of similar size.
Base scope is the canopy structure, install, civil, lighting, safety and engineering. EV charging is shown as an option. Site transport, trenching and battery are not included and can be added.

Proven with the retailers in your centres

Canyon Solar factory-builds solar canopies that turn large car parks into onsite power generation and shade. We have delivered them for Woolworths, across six sites, and for IGA, AstraZeneca and CSIRO. The canopy below sits over a supermarket car park, the same anchor format that trades across Vicinity's portfolio.

IGA Baranduda solar canopy
IGA Baranduda, VIC. A Canyon Solar delivery.

The Grand Canyon

For the main lots, the standout design is the Grand Canyon: a continuous, full-coverage canopy with no gaps over the driving lanes. It gives the highest solar density in our range and a clean roofline that makes the car park look like a designed part of the centre, not an afterthought.

Grand Canyon full-coverage solar canopy render
Grand Canyon, a continuous full-coverage canopy with integrated battery and EV charging.

The rest of the portfolio at a glance

Beyond the centres drawn above, we screened the wider portfolio for large, flat, at-grade car parks and sized each from its published car space count. Together the 28 centres represent roughly 53.2 MWp and $97-115M of indicative solar canopy, a programme that can be staged centre by centre.

SiteLocationAnchorsSystemIndicative
Colonnades Drawn & pricedNoarlunga Centre, SABig W, Kmart, Harris Scarfe, Aldi, Coles, Woolworths…2.70 MWp$4.73M
Harbour Town Gold Coast Drawn & pricedBiggera Waters, QLDWoolworths, Reading Cinemas5.34 MWp$9.09M
Grand Plaza Drawn & pricedBrowns Plains, QLDBig W, Kmart, Target, Aldi, Coles, Woolworths…3.21 MWp$5.58M
Elizabeth City Centre DesktopElizabeth, SABig W, Target, Harris Scarfe, Coles, Woolworths…~4.93 MWp$8.2-10.0M
DFO Brisbane DesktopBrisbane Airport, QLD(outlet)~4.03 MWp$6.7-8.2M
Broadmeadows Central DesktopBroadmeadows, VICKmart, Aldi, Coles, Woolworths, HOYTS~3.39 MWp$5.6-6.9M
DFO Essendon DesktopEssendon Fields, VICJB Hi-Fi Home, Chemist Warehouse~3.22 MWp$5.4-6.5M
Cranbourne Park DesktopCranbourne, VICKmart, Target, Harris Scarfe, Coles~2.63 MWp$4.9-5.9M
Lake Haven Centre DesktopLake Haven, NSWKmart, Aldi, Coles, Woolworths~2.57 MWp$4.8-5.8M
Eastlands DesktopRosny Park, TASBig W, Kmart, Coles, Woolworths, Village Cinemas~2.24 MWp$4.1-5.0M
DFO Moorabbin DesktopMoorabbin Airport, VIC(outlet)~2.11 MWp$3.9-4.8M
Castle Plaza DesktopEdwardstown, SAColes, Drakes, Target~2.00 MWp$3.7-4.5M
Whitsunday Plaza DesktopCannonvale, QLDBig W, Harvey Norman, Woolworths~1.78 MWp$3.3-4.0M
Taigum Square DesktopTaigum, QLDBig W, Woolworths~1.66 MWp$3.1-3.8M
DFO Uni Hill DesktopBundoora, VIC(outlet)~1.36 MWp$2.8-3.4M
Nepean Village DesktopPenrith, NSWKmart, Coles~1.34 MWp$2.7-3.3M
Northgate DesktopGlenorchy, TASColes, Woolworths~1.31 MWp$2.6-3.2M
Gympie Central DesktopGympie, QLDBig W, Woolworths~1.16 MWp$2.4-2.9M
Armidale Central DesktopArmidale, NSWKmart, Woolworths~946 kWp$1.9-2.3M
Mornington Central DesktopMornington, VICColes, Woolworths~778 kWp$1.6-1.9M
The table shows the 20 largest of 28 screened sites. A further 8 are sized in the full screen and available on request.
Desktop figures are derived from site area or lettable area and are indicative only. Drawn-and-priced figures come from a scaled layout and our pricing engine. All subject to site assessment.

Any site, in minutes

The centres above took minutes each. We can do the same for any site in the portfolio, live: draw the canopy to scale on the car park, size it, and price it while you watch. We can also run the full economics on your own inputs, whatever tariff, self-consumption, finance structure or target return Vicinity wants to test, so the numbers reflect how you assess an investment rather than our assumptions.

How to proceed

Own it (CAPEX)

Vicinity holds the canopies and all the generation, on a 30-year design life, staged centre by centre across the portfolio.

Hardware as a service (OPEX)

$0 upfront. A service agreement arranged through an independent finance partner; Vicinity keeps the generation and pays from the savings and revenue.

Every canopy is engineered, factory-built and installed by the team that has delivered 16 projects across three states.

A short working session to confirm the priority centres, validate the layouts on the actual title boundaries, and firm the tariff, common-area load and revenue assumptions with Vicinity's real figures.