October 28 (Renewables Now) - Singapore’s Cleantech Solar has signed a deal to install photovoltaic (PV) panels atop the roofs of 19 stores owned by retail giant Tesco (LON:TSCO) in Thailand.
The solar power plants operator has inked a power purchase agreement (PPA) with hypermarket chain Tesco Lotus that will see it build and operate the solar plants. The installations are expected to have an output of over 21.5 GWh per year, the companies announced last week.
Cleantech Solar will be responsible for financing the design, installation, operation and maintenance of the PV arrays. Tesco Lotus, meanwhile, will not be required to make any capital investment. Once operational, the power plants will generate electricity that will save more than 12,500 tonnes of carbon dioxide (CO2) emissions annually.
The deal is in line with Tesco Group's goal of souring 100% of its power from renewables by 2030 and become carbon-free by 2050. The group's interim target is to meet with renewables 65% of its electricity consumption by 2020.