Starbucks Joins Cypress Creek on Texas Solar Projects to Power 360 Stores

Starbucks and top-tier U.S. solar developer Cypress Creek on Monday unveiled a partnership on eight Texas solar projects that will provide energy to 360 Starbucks stores across the state. In total, the coffee company’s offtake accounts for 70 megawatts from eight Cypress Creek-owned projects. A division of U.S. Bank, the U.S. Bancorp Community Development Corporation, helped facilitate the deal and provided some tax equity for the projects. The bank previously worked with Starbucks on a 47-megawatt North Carolina solar project to power 600 stores. Analysts say the transaction indicates the growing sophistication of corporate and industrial offtake deals, as customers including those beyond the big tech buyers like Apple and Google become more adept at navigating renewables purchases.