Apple Launches Chinese Clean Energy Fund

16 Julio, 2018, 14:41 | Author: Arnold Perez
  • Apple’s new headquarters in Cupertino is powered by 100 percent renewable energy in part from a 17-megawatt onsite rooftop solar installation

Apple said the fund will invest in projects to develop more than 1 gigawatt of renewable energy in China, which is enough to power almost 1 million households there. Deutsche Bank will manage the fund and also invest in it. Apple, together with its ten primary manufacturing partners, including Pegatron Corp., Corning Inc., and Wistron Corp., will contribute the $300 million Dollars to the fund in the next four years. The former assembles products including iPhone at its two factories in Shanghai and Kunshan in China, while the latter is a supplier of Apple accessories whose production for Apple is predominantly located in East China.

Apple officially met its own 100 percent renewable milestone this spring, meaning that it procures enough clean electricity to cover what's consumed by its retail stores, data centers and work facilities around the world.

Keen to involve its suppliers, Apple has recruited over 23 of its suppliers to commit to running on 100 percent renewable energy. The project, which represents Apple's commitment to increase the volume of renewable energy in its supply chain and to address climatic change, would power up to 1 million homes in China.

Since launching the clean energy program in 2015 23 manufacturing partners have committed to 100 percent renewable energy for Apple production
Apple launches $300 million 'green' fund for China suppliers

The initial suppliers taking part in the initiative are Catcher Technology, Compal Electronics, Corning Incorporated, Golden Arrow, Jabil, Luxshare-ICT, Pegatron, Solvay, Sunway Communication and Wistron.

Apple shares closed higher in the US Thursday amid news the tech innovator is launching a new clean energy fund in China.

China's government has made steps toward more environmentally friendly policies this year by restructuring rural energy generators, using less coal to reduce emissions, and punishing polluting companies. It is hoped that by pooling the funds, more of the smaller companies within Apple's supply chain will gain access to clean power sources. The goal is for Apple and its suppliers to generate more than 4 gigawatts of new clean energy worldwide by 2020. Those investments will be used to power operations of the 10 participating.

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