Generate, Starbucks partner on 90 MW of community solar in New York

US sustainable infrastructure company Generate Capital Inc said it is developing a portfolio of community solar projects in New York State with a combined capacity of 90 MW together with US coffeehouse chain Starbucks Coffee Company (NASDAQ: SBUX).

Generate has already commissioned the first six plants with a capacity of around 24 MW.

The portfolio consists of about 23 projects in total, which will generate over 119,885 MWh of power a year and supply Starbucks stores in New York and up to 24,000 local homes, businesses, non-profit organisations, churches, universities and stores.

Starbucks has committed USD 97 million (EUR 80m) in tax equity to the portfolio through a fund set up by financial services firm Churchill Stateside Group. In addition to the power for its local stores, the company will receive renewable energy credits from the solar farms, which will offset more than 70% of its power consumption within the state.

The investment supports Starbucks' strategy aimed at cutting its carbon emissions by 50% by 2030.

(USD 1.0 = EUR 0.827)

Choose your newsletter by Renewables Now. Join for free!