Commercial, Solar, Sourcing Renewables - September 30, 2019
Caribou Coffee inks deal with community solar
Caribou Coffee Inc. signed a community solar subscription agreement for multiple 1 MW community solar gardens in a move that will reduce the coffee giant’s energy costs today and hedge against rising utility costs in the future.
Through the agreement, made in partnership with Renewable Properties and Minnesota-based community solar subscription manager Terasota Partners, Caribou will receive utility bill credits on their retail location electric bills throughout the state based on the number of kWhs produced by their share of the community solar garden portfolio.
Their two solar arrays in the garden are expected to produce 3,612,949 kWh annually.
“The collaboration with Renewable Properties and Terasota is really a win-win-win,” John Walbrun, SVP of Supply Chain & Properties at Caribou Coffee, said in a statement. “There’s now more clean solar energy being produced in the state and with the reduction in our energy costs, Caribou can continue to focus.”
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