Tesco Lotus signs agreement with Cleantech Solar on renewable energy
Tesco Lotus has entered into a power purchase agreement (PPA) with Cleantech Solar, a leading provider of renewable energy to corporations in Asia.
The partnership covers 19 Tesco Lotus stores across Thailand, and is part of Tesco’s effort to achieve its commitment of sourcing 100 per cent of its electricity from renewable sources by 2030, the company said in a statement.
The PPA is expected to generate more than 21.5 Gigawatt Hours (GWh) of clean energy, avoiding 12,515 tonnes of CO2 emissions in a year, the firm added.
The statement said Cleantech Solar will fully finance the design, installation, operation and maintenance of the system, providing Tesco Lotus renewable energy without any capital investment.
“Tesco Group has set a target to source 65 per cent of our electricity from renewable sources by 2020 and 100 per cent 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 more than 36.5 GWh of clean electricity every year. Our partnership with Cleantech Solar is a significant milestone that will help us deliver on our commitment to renewable energy. Tesco Lotus is excited to be in this partnership with Cleantech Solar, which has a proven track record on delivering and operating high-performing PV [photovoltaic] systems across different geographies,” Miroslav added.
“We are delighted to be selected as the trusted long-term solar partner by a retail giant like Tesco Lotus to finance and operate solar projects at multiple sites across Thailand,” Cleantech Solar founder and executive chairman Raju Shukla said. “This partnership represents another success for our team in Thailand to deliver reliable solar solutions to leading corporations.”
Cleantech Solar is a leading provider of renewable energy to corporations in Southeast Asia and India.