As more companies set — and approach — 100 percent clean energy targets, the range of renewable energy procurement methods available to corporate offtakers is maturing. This week, LevelTen Energy, a renewable energy procurement platform, announced the close of a three-project renewable energy portfolio purchased by Starbucks, with a collective capacity of 146 megawatts. The deal provides another example of how corporations with renewable energy goals are developing more options for clean energy procurement. Starbucks is simultaneously procuring a portion of the clean energy generated by the projects, in North Carolina, Oklahoma and Texas, through three power purchase agreements (PPA). The deal involves 50 megawatts of wind power from an ALLETE Clean Energy, 50 MW of solar power from a Cypress Creek Renewables, and 46 MW of solar from a BayWa r.e. Project. Starbucks is sourcing less than 50 percent of the renewable energy the projects will generate. The rest of the energy will be available for other corporate buyers to purchase, meaning the deal could serve to streamline other companies’ procurement of clean energy.
Green Biz 6th June 2019 read more »