Tesco Lotus & Cleantech Solar enter into a Power Purchase Agreement (PPA) for 19 stores in Thailand
21 October 2019
Tesco Lotus has entered into a Power Purchase Agreement (PPA) with Cleantech Solar, a leading provider of renewable energy to corporations in Asia, covering 19 Tesco Lotus stores across Thailand as part of the Tesco Group’s commitment to source 100 percent of its electricity from renewable sources by 2030.
Tesco Lotus & Cleantech Solar enter into a Power Purchase Agreement (PPA) for 19 stores in Thailand
Courtesy of Cleantech Solar
The PPA is expected to generate over 21.5 GWh of clean energy, avoiding 12,515 tonnes of CO2 emissions in a year. Throughout the agreement, Cleantech Solar will fully finance the design, installation, operation and maintenance of the system providing Tesco Lotus the renewable energy without any capital investment.
“Tesco Group has set a target to source 65 percent of our electricity from renewable sources by 2020 and 100 percent by 2030, as part of our larger commitment to become a zero-carbon business by 2050” said Miroslav Friml, Property Director, Tesco Lotus. “In 2016, we began installing rooftop solar panels at eight hypermarkets and five distribution centres. With the added capacity this year, Tesco Lotus will generate over 36.5 GWh of clean electricity every year. Our partnership with Cleantech Solar is a significant milestone that will help us to deliver on our commitment to renewable energy. Tesco Lotus is excited to be in this partnership with Cleantech Solar who has a proven track-record on delivering and operating high-performing PV systems across different geographies.”
Mr. Raju Shukla, Cleantech Solar Founder and Executive Chairman added that the partnership represents another success for the Cleantech Solar team in Thailand to deliver repeatable and reliable solar solutions to leading corporations.
Source: https://www.renewableenergymagazine.com/pv_solar/tesco-lotus-amp-cleantech-solar-enter-into-20191021
