Tags: starbucks | power. solar | farms

Starbucks Investing in Solar Farms, Buying Power From Others

Starbucks Investing in Solar Farms, Buying Power From Others
(Robert Wilson/Assets Delivery)

Monday, 15 April 2019 11:31 AM

Starbucks Corp. is boosting its investments in clean power.

The Seattle-based coffee giant is investing tax equity in a portfolio of eight Cypress Creek Renewables LLC solar farms in Texas, according to a statement Monday. Terms weren’t disclosed.

In tax-equity deals, companies passively invest in power projects in return for using renewable-energy credits that offset their own tax liabilities.

Starbucks (SBUX) also agreed to buy solar power from two of the Cypress Creek projects, in Wharton and Blossom, Texas. The 10-megawatt solar farms produce enough energy to power the equivalent of 360 Starbucks stores. The company announced in 2017 that it would buy power from a solar farm in North Carolina.

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Starbucks Corp. is boosting its investments in clean power.The Seattle-based coffee giant is investing tax equity in a portfolio of eight Cypress Creek Renewables LLC solar farms in Texas, according to a statement Monday.
starbucks, power. solar, farms
111
2019-31-15
Monday, 15 April 2019 11:31 AM
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