Apple commits US$300mn to renewable energy projects in China

Apple has announced its investment in green energy businesses and initiatives across China with a view to producing 4GW of green energy globally. Apple launched the China Clean Energy Fund in 2018, and further funding from the Silicon Valley company (along with ten other local suppliers) is set to expand the initiative. The fund is intended to give smaller local companies the financial backing to become more competitive in the green energy sector. Apple has committed to investing US$300mn in renewables by 2022 as part of its goal to reach net zero emissions by 2025. The funding is intended to produce 1GW within China, and will allow Apple to further supply their manufacturing plants with green energy. This is off the back of Apple completing the first of three projects across China in Concord Jing Tang and Concord Shen Zhang Tang which have a capacity of 48MW each, plus a third 38MW site.