July 14, 2020 Read More →

Tesco signs largest solar power purchase agreement in Malaysia

New Straits Times:

Tesco Stores (Malaysia) Sdn Bhd and NE Suria Satu Sdn Bhd (NESS) have entered into the largest long-term power purchase agreement (PPA) for solar energy in Malaysia.

NESS is a collaboration between Petronas through its New Energy business unit and NEFIN Group, a regional bespoke solar developer and asset management group.

In a joint statement today, Tesco Malaysia and NESS said the first phase of the PPA would see the installation of solar photovoltaic (PV) panels on the rooftop spaces of 15 Tesco stores nationwide.

The PPA will run for 20 years until 2040.

“Once the installation is completed in October 2020, the solar PV panels will collectively generate about 18 gigawatt hours (GWh) of clean energy per year, thus reducing approximately 13,624 tonnes of carbon emissions into the atmosphere. The power generated from the solar PV panels can also light up as many as 104 Olympic-sized stadiums simultaneously or 804,905 three-bedroom homes for an entire year,” they said.

Tesco Malaysia chief executive officer Paul Ritchie said the installation of the solar PV panels in 15 out of 62 of its stores was the first phase in Tesco’s renewable energy push. Eventually, Ritchie said it would be able to generate clean, renewable energy at most of its stores and in the process, reduce carbon emissions.

[Azanis Shahila Aman]

More: Tesco seals largest solar power deal in Malaysia

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