The need for refrigeration in the retail industry and specifically in supermarkets, currently accounts for around 30% to 60% of the total energy consumed in stores. A key characteristic of this consumption, is the high amount of low-grade (i.e., low-temperature) heat rejected by the condensation units to the ambient air. This paper focuses on the transcritical CO2 (R744) refrigeration cycles and aims to assess whether the use of a water-cooled condenser rejecting heat to the soil via an intermediate closed water-circuit, can reduce the energy consumption, while also considering the economic implications of this modification.