We advised Macquarie on its ground-breaking agreement with Tesco to own, operate and maintain solar panels at various Tesco stores and distribution centres across the UK.
This is a project of sector-wide significance as it forms part of Tesco's ambition to generate 10% of its energy needs onsite by 2030. Tesco's agreements with Macquarie also form part of its commitment to use 100% renewable electricity across the Tesco Group by 2030.
We advised Macquarie on an overarching framework agreement under which installation programmes are agreed and the form of power purchase agreement and lease to be used for each Tesco site where solar panels are to be installed.
This follows on from our successful role advising Macquarie on its agreements with Amazon to fund, develop and operate rooftop solar panels with a total installed capacity of 20MW at Amazon's UK fulfilment centres.