USB US Bancorp

By Michael Dabaie

Starbucks Corp. (SBUX) said it is working with Cypress Creek Renewables and U.S. Bank on a portfolio of solar farms across Texas.

Two solar farms developed, built and now operated by Cypress Creek are providing enough energy for the equivalent of 360 Starbucks stores in Texas, including stores in Houston, Dallas, Fort Worth, Plano and Arlington.

With the final solar farm in the portfolio now producing energy, hundreds of Starbucks stores across Texas are now powered by two, 10-megawatt Cypress Creek-owned solar farms located in Wharton and Blossom, Texas. ENGIE Resources is providing full retail energy requirements, Starbucks said.

Starbucks said it is separately investing in six Cypress Creek-owned solar farms in Texas, representing 50 megawatts of solar energy.

Cypress Creek is a developer, investor, builder and operator of solar energy generating assets.

The U.S. Bancorp Community Development Corporation, the tax credit division of U.S. Bank, provided a portion of the tax equity investment.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

April 15, 2019 10:39 ET (14:39 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.