Pivot Energy and Tapestry, Inc. Announce Completion of Three Illinois Community Solar Projects

Rhea-AI Summary

Tapestry (NYSE: TPR) and Pivot Energy completed three Illinois community solar projects totaling 13.475 MWac in Peoria, Dover, and Ottawa on Jan 8, 2026. The portfolio is expected to produce > 23,000 MWh/year—roughly enough for 2,500 Illinois households—and is part of a 15-year REC purchase agreement with Tapestry. Two additional projects in the five-project Illinois program are under development with construction expected to finish by 2030. Pivot has committed > $115,000 to local initiatives across the five projects, with nearly $65,000 already donated to Illinois Central College and HIRE360 for workforce training. Tapestry reported achieving 100% renewable electricity across its operations in December 2025.

Positive

• Installed capacity of 13.475 MWac across three projects
• Expected generation of 23,000 MWh/year (~2,500 households)
• 15-year REC purchase agreement with Tapestry strengthens long-term demand
• Community investment commitment of > $115,000 across five projects
• Tapestry achieved 100% renewable electricity across operations in Dec 2025

Negative

• Two remaining Illinois projects not expected to finish until 2030
• 15-year REC commitment creates a long-term purchase obligation

Key Figures

Illinois solar capacity 13.475 MWac Three completed Illinois community solar projects

Projects completed 3 projects Illinois community solar sites in Peoria, Dover, Ottawa

Portfolio size 5 projects Total Illinois community solar projects in Pivot–Tapestry partnership

Agreement term 15 years Duration of Tapestry REC purchase agreement with Pivot

Annual energy output 23,000+ MWh/year Expected renewable generation from Illinois solar projects

Households powered ≈2,500 households/year Equivalent homes powered by the Illinois projects

Community contributions >$115,000 Planned local initiative investments across five projects

Donations to date ≈$65,000 Funds already donated to ICC and HIRE360

Market Reality Check

$134.35 Last Close

Volume Volume 2,101,638 is at 0.79x the 20-day average of 2,664,066, indicating lighter-than-normal trading ahead of this news. normal

Technical Shares at 130.97 are trading above the 200-day MA 98.34 and sit about 2.25% below the 52-week high of 133.985, reflecting a strong pre-news uptrend.

Peers on Argus

TPR fell 1.66% alongside key luxury peers: SIG -1.81%, CPRI -0.74%, MOV -1.71%, AS -0.78%, RL -0.11%. The pre-news weakness appeared sector-wide rather than stock-specific.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 22	CSR progress update	Positive	+2.8%	Detailed FY2025 corporate responsibility progress and new 2030 ESG goals.
Nov 06	Earnings beat, guidance	Positive	-9.6%	Record FY26 Q1 results and raised full-year outlook with stronger margins.
Oct 16	Earnings call notice	Neutral	-0.1%	Scheduled FY26 Q1 earnings call and provided access details for investors.
Sep 10	Strategy, capital returns	Positive	+0.1%	Introduced “Amplify” growth strategy and new $3B buyback authorization.
Aug 14	FY2025 results	Positive	-15.7%	Strong FY2025 revenue and margin expansion but with a large Kate Spade impairment.

Pattern Detected

Recent history shows strong fundamentals and ESG messaging, with some major positive financial updates followed by notable selloffs, indicating a tendency for investors to fade good news at times.

Recent Company History

Over the last six months, Tapestry reported record FY2025 revenue of $7.0B and strong Q4 results, unveiled its “Amplify” growth strategy with plans to return $4B to shareholders, and delivered record FY26 Q1 sales of $1.705B while raising guidance. The company also highlighted progress on corporate responsibility, including 100% renewable electricity across operations. Despite this, major earnings and strategy announcements sometimes coincided with share price declines, making today’s renewable energy partnership consistent with a broader sustainability narrative but against a backdrop of mixed past price reactions.

Market Pulse Summary

This announcement reinforces Tapestry’s sustainability strategy by adding 13.475 MWac of Illinois community solar under a 15-year REC agreement with Pivot Energy. The projects are expected to generate over 23,000 MWh annually, enough to power about 2,500 homes, and include more than $115,000 in planned community investments. Together with earlier progress toward 100% renewable electricity, this deepens Tapestry’s ESG profile while supporting local workforce development in the solar industry.

Key Terms

renewable energy credits financial

"Tapestry, which is purchasing Renewable Energy Credits (RECs) from Pivot"

Renewable energy credits (RECs) are tradable certificates that prove one megawatt-hour of electricity was generated from a renewable source, separate from the physical electricity itself. Think of a REC as a receipt for supporting green power: companies buy or sell them to meet regulatory targets or sustainability goals. Investors pay attention because RECs create additional revenue or cost obligations, influence corporate environmental claims, and can affect the economics and valuation of clean‑energy projects.

recs financial

"purchasing Renewable Energy Credits (RECs) from Pivot, produced by the projects"

Recs is short for analyst recommendations, the buy/hold/sell guidance that professional stock analysts publish about a company’s shares. They matter to investors because they summarize an expert view on whether a stock is likely to rise or fall, similar to a restaurant star rating that helps decide where to eat; many investors use these signals to shape trading decisions and gauge market sentiment.

AI-generated analysis. Not financial advice.

The two companies energize nearly 15 megawatts of renewable energy

PEORIA, Ill., Jan. 8, 2026 /PRNewswire/ -- Pivot Energy, a leading national renewable energy provider and independent power producer, and Tapestry, Inc. (NYSE: TPR), a global house of iconic accessories and lifestyle brands uniting the magic of Coach and Kate Spade, are celebrating a milestone in their partnership. Today, Pivot announced the completion of three Illinois community solar projects, totaling 13.475 megawatts (MWac).

The Projects
The three new Illinois community solar projects – financed, developed, owned, and operated by Pivot – are in Peoria, Dover, and Ottawa. They are the first of five Pivot community solar projects to be developed and completed in Illinois and part of a 15-year agreement with Tapestry, which is purchasing Renewable Energy Credits (RECs) from Pivot, produced by the projects. Collectively, the solar projects are expected to generate more than 23,000 megawatt hours of renewable energy per year, the equivalent of powering approximately 2,500 Illinois households annually. Construction for the two remaining solar projects in the Illinois portfolio is expected to finish by 2030.

Community Impact Investment Commitments
Pivot Energy is dedicated to investing in the communities where its projects operate. Across the five projects in this partnership, they plan to contribute more than $115,000 to support local initiatives. To date, nearly $65,000 has already been donated to two Illinois organizations, Illinois Central College (ICC) and HIRE360, to fund workforce training programs that expand access to solar careers across the state. The remaining funds will be donated in the coming years as the other two projects reach key construction milestones.

Driving Renewable Transformation Across Tapestry's Global Footprint
Tapestry's investment in the Illinois community solar portfolio reflects the company's broader commitment to operating responsibly and reducing its environmental impact. In December 2025, Tapestry announced that it had achieved 100% renewable electricity across its stores, offices, and fulfillment centers globally. The long-term agreement with Pivot Energy strengthens that progress by adding new clean energy to the grid and supporting a more resilient, low-carbon future for the communities where the company operates. Across its global footprint, Tapestry continues to source renewable electricity through a combination of renewable energy credits and market-appropriate energy certificates, ensuring its operations are powered by cleaner, more responsible energy solutions.

"Pivot is thrilled to partner with Tapestry on this Illinois portfolio," said Liz Reddington, Vice President of Development at Pivot Energy. "It demonstrates how companies are continuing to advance renewable energy solutions while providing support to local communities for workforce development, education, and more."

"These Illinois solar projects mark a significant milestone in Tapestry's renewable energy strategy. Our partnership with Pivot Energy has been instrumental in achieving 100% renewable electricity across our own operations, a key step toward meeting our science-based climate targets," said Logan Duran, Global Head of ESG & Sustainability, Tapestry, Inc. "This collaboration demonstrates how we're integrating sustainability into the way we operate, investing in solutions that deliver measurable impact for our business and the planet."

Pivot Community Donations
"We are thrilled to share that Pivot Energy has made a generous contribution to support our pre-apprenticeship programs. Its support will help us advance workforce pathways into the solar industry, focusing on transitioning workers from fossil fuel trades and empowering underrepresented groups like minorities and women. We're grateful for Pivot's partnership and commitment to purpose-driven solar development. Together, we're creating opportunities and driving a more inclusive renewable energy future," said Jay Rowell, Executive Director, HIRE360.

"On behalf of Illinois Central College, we extend our deepest gratitude to Pivot Energy for its generous support of our solar program. Its partnership is not only helping us move towards a more sustainable future, but also empowering our students with the knowledge and tools they need to lead the way in renewable energy. Together, we are building a brighter, greener tomorrow for our community and beyond," said Dr. Sheila Quirk-Bailey, President of Illinois Central College.

Pivot is committed to powering accessible, affordable renewable energy, and positively impacting local communities. Tapestry's commitment to creating products and experiences that are captivating and crafted using responsible sourcing practices guides our journey to make every beautiful choice a responsible one.   

About Pivot Energy
Pivot Energy is a renewable energy provider and independent power producer that develops, finances, builds, owns and manages solar and energy storage projects. Pivot leverages its renewable expertise to provide a range of unique offerings that accelerate the clean energy transition by helping companies and communities attain impactful decarbonization. Pivot is a U.S.-based Certified B-Corporation that proudly follows a corporate strategy aimed at providing a positive impact on society as measured by Environmental stewardship, Social leadership, and responsible Governance factors. Pivot Energy is an ECP portfolio company. Learn more at pivotenergy.net.

About Tapestry, Inc.
Our global house of iconic accessories and lifestyle brands unites the magic of Coach and kate spade new york. Together, we stretch what's possible – advancing brands further than they could go alone, expanding their reach to new geographies and generations. Inspired by our consumers, we create experiences and products that build lasting brand love and elevate everyday life. To learn more about Tapestry, please visit www.tapestry.com.

View original content:https://www.prnewswire.com/news-releases/pivot-energy-and-tapestry-inc-announce-completion-of-three-illinois-community-solar-projects-302655658.html

SOURCE Pivot Energy

FAQ

What capacity did Tapestry and Pivot Energy complete in Illinois on January 8, 2026?

They completed three community solar projects totaling 13.475 MWac in Peoria, Dover, and Ottawa.

How much energy will the Illinois solar portfolio produce for Tapestry annually?

The three projects are expected to generate more than 23,000 MWh per year, about 2,500 Illinois households' usage.

What is the length of the REC agreement between Tapestry (TPR) and Pivot Energy?

Tapestry has a 15-year agreement to purchase Renewable Energy Credits from Pivot Energy.

How much community funding did Pivot commit and how much has been donated so far?

Pivot committed more than $115,000 across the five projects and has donated nearly $65,000 to Illinois Central College and HIRE360 to date.

When will the remaining Illinois community solar projects in the program be completed?

Construction for the two remaining projects in the Illinois portfolio is expected to finish by 2030.