Starbucks will substantially boost the amount of clean power it uses by 2021. The coffee giant has purchased a three-project renewable energy portfolio, comprising both wind and solar farms in North Carolina, Oklahoma and Texas.
‘As we continue to strive towards building and operating the world’s largest green retail business, we know we need to find innovative business models to achieve our renewable energy goals, not only does this portfolio model allow us to support new solar and wind farms that will deliver the clean energy equivalent to the electricity powering over 3,000 stores, it also opens the door for many new buyers to cost-effectively source smaller amounts of renewable energy.‘ – Patrick Leonard, Energy Manager – Starbucks
According to LevelTen, this portfolio transaction, in which a corporate buyer simultaneously procures a fraction of the power generated by multiple new projects, is unprecedented. Collaboration between the developers and LevelTen through data sharing will enable Starbucks to monitor its renewable energy generation, track portfolio performance, and streamline contract management.
