Tesco has finalised a major solar energy deal aimed at sustainability.
- The agreement involves powering 144 stores with solar energy.
- Energy will be sourced from Cleve Hill solar park in Kent.
- The solar initiative covers a significant portion of Tesco’s energy needs.
- This step marks Tesco’s commitment to renewable energy projects.
Tesco has announced the completion of a significant agreement to utilise solar energy for powering 144 of its large stores. This substantial move is part of the company’s ongoing effort to enhance its sustainability operations.
The solar energy will be sourced from the Cleve Hill solar park located in Kent. The solar park covers a sprawling area of farmland near Faversham and has been developed by Quinbrook Infrastructure Partners. The project, valued at £450 million, is a major investment in renewable energy infrastructure.
With over 560,000 solar panels, the Cleve Hill site is anticipated to become operational by the beginning of next year. Once operational, it will supply nearly two-thirds of its generated electricity to Tesco, fulfilling up to 10% of the supermarket chain’s electricity requirements across the UK for a duration of 15 years.
The initiative not only enhances Tesco’s sustainability credentials but also represents a landmark corporate power purchase agreement in the UK’s solar energy sector. EDF is responsible for providing power balancing and shaping services to ensure the fluidity of this ambitious energy-supply agreement.
On this occasion, Ken Murphy, CEO of Tesco, expressed the company’s enthusiasm for this sustainable energy collaboration, stating: “We’re delighted to be announcing such a significant step in our journey towards carbon neutrality across our own operations by 2035.” This highlights Tesco’s commitment to tackle climate change through innovative projects like Cleve Hill.
Furthermore, the addition of Cleve Hill to Tesco’s energy portfolio means that their power purchase agreements will account for 45% of Tesco UK’s predicted electricity demands by 2030. This reflects a growing trend among businesses to invest in renewable energy sources as part of broader environmental strategies.
Over the past five years, Tesco has initiated multiple projects aimed at sourcing green electricity, including various windfarms and solar parks scattered throughout the United Kingdom. These initiatives are a testament to their strategic planning in reducing carbon footprint and promoting sustainable industry practices.
This solar energy deal underscores Tesco’s dedication to achieving sustainability and carbon neutrality in its operations by 2035.
