Companies news
Tesco Lotus & Cleantech Solar enter into a Power Purchase Agreement (PPA) for 19 stores in Thailand
Thailand, Bangkok, 21 Oct 2019 –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 Lotus’s effort to achieve Tesco Group’s commitment to source 100% of its electricity from renewable sources by 2030.
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.
Mr. Miroslav Friml, Property Director, Tesco Lotus, said: “Tesco Group has set a target to source 65% of our electricity from renewable sources by 2020 and 100% by 2030, as part of our larger commitment to become a zero-carbon business by 2050. In 2016, we began installing rooftop solar panels at eight hypermarkets and five distribution centres. With the qdded cqpqcity thsi 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 said, “We are extremely delighted to be selected as the trusted long-term solar partner by a retail giant, like Tesco Lotus, to finance and operate the solar projects across multiple sites in Thailand. This partnership represents another success for our team in Thailand to deliver repeatable and reliable solar solutions to leading corporations. We are proud to be a part of Tesco Lotus’s sustainability journey to achieve their renewable energy goals.”
