Apple is betting big on renewable energy, and has just announced a new fund to invest into the technology in China.
The company has reported that the China Clean Energy Fun will be getting $300 million from Apple, as well as 10 other initial suppliers, with the goal of producing at least 1 gigawatt of energy within the next four years.
That would be enough, according to Apple, to power a million homes.
”At Apple, we are proud to join with companies that are stepping up to address the climate challenge,” said Lisa Jackson, Apple’s vice president of environment, policy and social initiatives. “We’re thrilled so many of our suppliers are participating in the fund and hope this model can be replicated globally to help businesses of all sizes make a significant positive impact on our planet.”
Apple believes the path towards clean energy is a hard one, and the fund will allow its participants greater purchasing power. That will, the company hopes, result in 'more attractive and diverse' energy solutions.
DWS Group will manage the fund.
Apple has been pushing for clean energy for quite some time now. In 2015, it launched its Supplier Clean Energy Program, which made sure its global facilities are powered by 100 per cent clean energy. Since the kickoff of the program, 23 manufacturing partners in more than 10 countries have committed to powering all of their Apple production with 100 per cent clean energy.
“Apple and its suppliers will generate more than 4 gigawatts of new clean energy worldwide by 2020 — representing one-third of Apple’s current manufacturing electricity footprint,” the company added.
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