Tesco has embarked on a groundbreaking renewable energy initiative, signing a significant deal to source solar power.
- The retailer will acquire nearly two-thirds of the electricity from the Cleve Hill solar park.
- This initiative is set to provide up to 10% of Tesco’s UK electricity needs over 15 years.
- It represents the largest corporate solar power purchase agreement in the UK.
- The solar park, developed by Quinbrook, is expected to be operational by early next year.
Tesco has made a substantial move towards sustainability by signing an agreement to obtain solar energy from the Cleve Hill solar park in Kent. This £450 million project, spearheaded by Quinbrook Infrastructure Partners, is anticipated to power 144 of Tesco’s larger stores, contributing significantly to the retailer’s electricity supply.
The strategic partnership allows Tesco to purchase almost two-thirds of the electricity generated by Cleve Hill, marking a pivotal step towards meeting its renewable energy targets. This initiative is projected to cover up to 10% of Tesco’s electricity needs in the UK for the duration of the 15-year contract.
Cleve Hill, an extensive solar park featuring over 560,000 solar panels, is a major development in the UK’s renewable energy sector. With EDF providing crucial power balancing and shaping services, the project is poised to be a significant contributor to the national renewable energy landscape.
According to Tesco, this agreement is the largest corporate power purchase deal for a solar farm within the United Kingdom, underscoring the retailer’s commitment to a sustainable future. The developments align with Tesco’s broader strategy, which has seen the company actively engage in multiple energy projects over the past five years.
Tesco CEO Ken Murphy expressed delight at this advancement, highlighting its importance in the retailer’s quest for carbon neutrality by 2035. “We’re delighted to be announcing such a significant step in our journey towards carbon neutrality across our own operations by 2035,” Murphy stated, confirming the strategic alignment with the company’s long-term environmental objectives.
This landmark agreement underscores Tesco’s commitment to sustainability and marks a significant advancement in the UK’s shift towards renewable energy.
