Starbucks has separately invested in six solar farms of Cypress Creek in Texas, which represents a total of 50 megawatts of solar energy
Cypress Creek Renewables, a solar power company, and Starbucks have reportedly announced a partnership to build solar farms across Texas, United States.
Apparently, the partnership will also involve two of the existing farms operated by Cypress Creek supply Starbucks with sufficient energy, equivalent to 360 of its stores in the Lone Star State.
Sources familiar with the matter informed that there are more than one hundred Starbucks stores present across Texas currently driven by two, 10-megawatt solar farms owned by Cypress Creek, that help in reducing its carbon footprint and environmental impact.
A unit of the US Bank, the United States Bancorp Community Development Corporation (USBCDC), handled the transaction between Starbucks and Cypress Creek and also offered a share of the tax equity investment, sources said.
Starbucks is separately investing in six solar farms of Cypress Creek in Texas, which represents a total of 50 megawatts of solar energy. These solar panel farms are lowering carbon emissions by over 101,000 tons yearly which is equivalent to more than 2.5 million trees being planted.
According to Starbucks Director of Global Environmental Impact, Rebecca Zimmer, the long-standing commitment of the company towards renewable energy reinforces greener retail initiative and defines the aspiration to sustainable coffee that is served sustainably. Now Starbucks is moving towards investing in new, renewable energy projects in its store communities, she added.
CEO of Cypress Creek Renewables, Matthew McGovern said that by joining forces with Engie, Starbucks, and US Bank it will provide domestically-sourced solar product to energise Starbucks’ Texas stores.
Seemingly, this marks the second time that the US Bank and Starbucks have worked together, having formerly developed a 47-megawatt solar farm in North Carolina’s Maxton, that drives over 600 Starbucks stores.
For the uninitiated, Starbucks, an American coffee company and coffeehouse chain was established in 1971 and is headquartered in Seattle, Washington. It operates more than 30,000 stores worldwide.