PHOENIX — Schneider Electric, a global energy technology leader, and Sprouts Farmers Market, Inc. announced a landmark Tax Credit Transfer (“TCT”) in collaboration with U.S. Bank, and Longroad Energy. This agreement advances the Sun Pond Solar + Battery Energy Storage System (BESS) project in Maricopa County, Ariz. – home to Sprouts’ headquarters – and represents a significant step toward driving positive impact in the communities where Sprouts operates.
Schneider Electric Advisory Services served as a strategic advisor to Sprouts, streamlining the renewable energy investment process. The project delivers energy, improves air quality, and enhances local grid resilience through battery storage. It will also help strengthen the regional tax base, bringing long-term economic and environmental benefits to Arizona communities.
Sprouts’ investment has helped bring online a 111 MWdc solar and 85 MWac / 340 MWh storage project, expected to power approximately 19,000 homes annually and avoid 145,000 metric tons of CO₂ emissions each year. Over its lifetime, Sun Pond will contribute more than $30 million in revenue for Arizona schools and communities through long-term leases and tax remittances. The project also leverages American-made technology and workforce development, employing more than 200 workers during construction, including registered apprentices.
“This work is anchored in Sprouts’ purpose of helping people live and eat better,” said Brandon Lombardi, Chief Legal and Sustainability Officer of Sprouts Farmers Market. “By supporting new renewable energy projects, we’re taking tangible steps to care for our planet, people, and local communities.”
The Sun Pond project is part of the Longroad Sun Streams Complex and features an energy storage platform provided by Fluence, a U.S.-based company, with U.S.-made inverters integrated into the system. Construction is complete, and commercial operations have commenced.
“This deal demonstrates how companies like Sprouts can lead the way in responsible renewables,” said John Powers, Vice President of Strategic Renewables at Schneider Electric. “Through Schneider Electric Advisory Services, we help clients navigate complex negotiations and deliver solutions that align with their climate goals.”
“U.S. Bank is grateful for SE Advisory Services collaboration and Sprouts’ trust in us to close this investment that meets their financial and sustainability objectives while bringing additional capital into the renewable energy sector,” said Timmi Kloster, Senior Vice President, Tax Credit Syndications at U.S. Bancorp Impact Finance, the community development and environmental finance division of U.S. Bank. “By pairing Sprouts with Longroad Energy’s Sun Pond solar and storage projects, SE Advisory Services and U.S. Bank’s syndications teams delivered a tailored solution that provides predictable tax benefits and helps expand clean energy generation, storage and local jobs in Arizona.”
