Insider Brief:
- Apple has launched its second clean energy fund for China, with US$99 million going towards clean energy development
- It follows a previous fund in 2018, which added 1 GW of clean energy to the Chinese grid
- Apple is aiming for carbon neutrality by 2030
U.S. technology giant Apple has launched its second clean energy fund in China, putting US$99 million towards its push for decarbonization.
The China Clean Energy Fund will finance renewable energy projects across the country. Apple’s first China Clean Energy Fund, launched in 2018, generated over 1 gigawatt of renewable-powered energy across 14 Chinese provinces, Reuters reported.
The second phase targets 550,000 megawatt hours of wind and solar to be added to the country’s electrical grid. Apple aims to attract other investors to the fund as well.
“Our suppliers in China are promoting world-class progress in the fields of intelligent manufacturing and green manufacturing,” Chief Operating Officer Jeff Williams said, in a statement from the company’s Chinese-language site.
“With the launch of the second phase of the China Clean Energy Fund, we are honored to deepen our connection with suppliers across China.”
Investors in the first phase of the fund included Catcher Technology, Compal Electronics, Corning Inc., Golden Arrow, Jabil, Luxshare-ICT, Pegatron, Solway, Sunway Communication, and Wistron, Apple Insider reported.
Apple has said it is targeting carbon neutrality by 2030, and said two-thirds of its production in China is propelled by renewable energy.
