Apple invests USD99 mn in China's renewable energy
(MENAFN) Apple revealed the launch of a 720-million-yuan ($99.3 million) fund on Monday aimed at accelerating clean energy projects in China, supporting its mission to achieve a fully renewable energy-powered supply chain by 2030.
The second stage of the China Clean Energy Fund, managed by Schroders, seeks to contribute nearly 550,000 megawatt-hours of wind and solar energy to China’s power grid each year.
"This builds on the success of the initial fund," which was launched in 2018 and resulted in the creation of over 1 gigawatt (GW) of renewable energy in 14 provinces, this new phase is expected to further expand clean energy capacity, it said.
Apple’s Chief Operating Officer, Jeff Williams, stated, “Our suppliers in China are driving world-class advances in smart and green manufacturing.” He further noted, “With the launch of the second China Clean Energy Fund, we’re proud to deepen our collaboration with suppliers across China to drive innovation, opportunity and progress for our shared planet.”
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