Starbucks is investing in solar farms | Fin24
 
  • Load Shedding

    Find the latest load shedding schedules for Joburg, Durban, Cape Town, and other cities.

  • Ferial Haffajee

    South Africans are a cynical lot. Are we are missing that the business investment strike is over?

  • 'Devastated'

    Western Cape govt bemoans Arcelor Mittal SA's decision to shut its steel works plant in Saldanha.

Loading...

Starbucks is investing in solar farms

Apr 16 2019 16:44
Brian Eckhouse

Starbucks 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 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  |  solar  |  renewable energy  |  investment
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote

Loading...