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Apple Funds Millions to Boost Clean Energy in China
(MENAFN) On Monday, the American tech titan Apple revealed the establishment of a 720 million yuan (USD99.3 million) investment fund aimed at accelerating the development of clean energy in China. This initiative is part of Apple's broader commitment to transition its entire supply chain to 100 percent renewable energy by the year 2030.
The second stage of the China Clean Energy Fund, managed by Schroders, will contribute nearly 550,000 megawatt-hours of wind and solar energy to China's power grid on an annual basis.
"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 projects across 14 provinces, the company explained.
Apple's Chief Operating Officer, Jeff Williams, stated, “Our suppliers in China are driving world-class advances in smart and green manufacturing. 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.”
The newly launched fund is designed to assist in the development of renewable energy programs in their initial stages, providing broader access to clean energy solutions for firm of different sizes.
The second stage of the China Clean Energy Fund, managed by Schroders, will contribute nearly 550,000 megawatt-hours of wind and solar energy to China's power grid on an annual basis.
"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 projects across 14 provinces, the company explained.
Apple's Chief Operating Officer, Jeff Williams, stated, “Our suppliers in China are driving world-class advances in smart and green manufacturing. 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.”
The newly launched fund is designed to assist in the development of renewable energy programs in their initial stages, providing broader access to clean energy solutions for firm of different sizes.
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