US Bank said the business model of Starbucks investing in solar farms regionally to support a specific group of its stores is a unique approach by the coffee brand. (Photo Credit: Starbucks Corporation)
- Starbucks, Cypress Creek Renewables and US Bank have come together to partner for 8 solar power projects in Texas
- Developed, built and operated by Cypress Creek, 2x10 MW projects in Wharton and Blossom are already providing solar power to 360 stores of Starbucks in Texas
- Starbucks is also investing in 6 more projects being developed by Cypress Creek in Texas representing 50 MW of solar energy
Two PV farms with 10 MW capacity each, developed, built and operated by solar power developer Cypress Creek Renewables are providing clean solar power to 360 stores owned by United States based global coffee brand, Starbucks Coffee Company. These farms are located in Wharton and Blossom regions of Texas and have Engie Resources providing full retail energy requirements.
Additionally, Starbucks is also investing in 6 Cypress Creek-owned solar farms in Texas, representing 50 MW of solar capacity. The projects were neither identified, nor their timeline mentioned. All of these 8 solar power projects will reduce carbon emissions by around 101,000 tons annually, according to the companies.
“Starbucks is taking a unique approach – investing in solar farms regionally to support a specific group of its stores. This is a new concept and one that I think other companies are watching and may follow. It’s an interesting model that allows them to talk specifically about the impact of their investments,” said Chris Roetheli, business development officer with US Bank subsidiary US Bancorp Community Development Corporation (USBCDC), that provided a portion of the tax equity investment to Starbucks and Cypress Creek partnership.
Previously, US Bank helped Starbucks on a 47 MW solar farm in Maxton, North Carolina that powers 600 Starbucks stores.