Baringa Partners has advised Tesco Plc in relation to its renewable energy strategy, procurement and execution of three long-term Power Purchase Agreements (PPAs) with EDF ER, BayWa and Scottish Power Renewables. Confirmed sites include:
- Onshore wind: Burnfoot East, Scotland – EDF
- Onshore wind: Inverclyde, Scotland – BayWa r.e.
- Onshore wind: Halsary, Scotland – ScottishPower
- Two further wind farms and a solar farm will also be developed.
These projects, which are expected to reach commercial operations in 2021, will be some of the first to be built in the UK without government support; the PPA from Tesco being a critical factor in unlocking the capital required to fund construction.
Ilesh Patel, Partner at Baringa Partners, said: “We were delighted to have helped Tesco to pioneer innovative new renewable energy Power Purchase Agreements, driving some of the first unsubsidised renewables generation plant in the UK market to date. The scale and breadth of these agreements will kick start the next phase of renewable energy deployment in the UK.”
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