SDCL energy efficiency fund to build rooftop solar for Tesco

SDCL Energy Efficiency Income Trust plc (LON:SEIT) will build around 5 MW of rooftop solar photovoltaic (PV) systems for UK supermarket chain Tesco plc (LON:TSCO) under a new framework agreement announced on Wednesday.

The UK investment firm said it will install 1 MW at first as part of the initial 5 MW and add more projects at a later stage. Tesco will sign a power purchase agreement (PPA) with SEEIT for each site.

SEEIT has selected Welsh solar firm Kingspan Energy Limited to act as an engineering, procurement and construction (EPC) contractor for the Tesco projects. Kingspan will also be in charge of operation and maintenance (O&M) activities once they are finalised.

The Tesco agreement is SEEIT’s first PV project since listing on the London stock exchange in December 2018. The firm said this investment is in line with its strategy to bring clean energy directly to users at competitive prices.

Choose your newsletter by Renewables Now. Join for free!