Tesco has secured a transformative solar energy deal, marking a pivotal step in its sustainability agenda.
- The UK retailer will power 144 stores with solar energy from Cleve Hill solar park.
- This substantial agreement covers nearly two-thirds of Cleve Hill’s electricity output.
- The project will supply up to 10% of Tesco’s electricity needs for the next 15 years.
- Ken Murphy, Tesco CEO, hails the deal as significant in achieving carbon neutrality by 2035.
Tesco has reached a landmark agreement to secure solar energy for 144 of its large outlets, positioning itself prominently in the UK’s renewable energy landscape. The deal involves purchasing almost two-thirds of the electricity produced at the Cleve Hill solar park in Kent, highlighting a substantial commitment to sustainability.
The Cleve Hill solar development, valued at £450 million, is constructed on farmland near Faversham and includes over 560,000 solar panels. With its energy storage infrastructure, it is poised to significantly contribute to renewable energy in the UK. EDF will assist in balancing and shaping the power to ensure a steady energy flow to Tesco, with the project expected to commence operations early next year.
This agreement forms part of Tesco’s wider renewable energy strategy, aiming to supply up to 10% of its electricity needs over the next 15 years. It stands as the largest corporate power purchase agreement for a solar farm within the UK, illustrating Tesco’s proactive approach to tackling climate change.
Tesco CEO Ken Murphy expressed enthusiasm regarding the initiative, stating that it represents a “significant step” towards reaching carbon neutrality in their operations by 2035. Over the past five years, Tesco has been actively engaging in acquiring green electricity from both wind and solar sources across the UK.
Through such power purchase agreements, which now include Cleve Hill, Tesco anticipates covering 45% of its expected electricity demand in the UK by 2030. This underscores the company’s commitment to sustainable practices and innovation in sourcing green energy.
This deal exemplifies Tesco’s forward-thinking strategy in renewable energy adoption, significantly anchoring its sustainability goals.
