Sign Up for FREE Daily Energy News

Hazloc Heaters
Sur-Flo Meters
Shocker PASS - Headwind Solutions
Hazloc Heaters
Shocker PASS - Headwind Solutions
Sur-Flo Meters

Starbucks Is Investing in Portfolio of Solar Farms in Texas

Apr 15, 2019, by Brian Eckhouse

Starbucks Corp. is boosting its investments in clean power.

The Seattle-based coffee giant is investing in tax equity from 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 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.

Starbucks is among the few companies that are both buying clean power and investing in tax equity, said Kyle Harrison, an analyst at BloombergNEF. “There’s a two-sided aspect to this: sustainability and a business opportunity,” he said.

Share This:

More News Articles

New SHOWCASE Directory Companies


T.A. Cook
Gardner Denver
Presto GeoSystems
STEP Energy Services