Apple Expands China Clean Energy Fund to $212 Million
Apple has increased its second China Clean Energy Fund to a total commitment of $212 million. The program supports renewable energy projects in China, where over 95% of the company's manufacturing now uses renewable power.
Apple announced an expansion of its second China Clean Energy Fund, increasing the total commitment to $212 million, nearly doubling its initial $100 million anchor investment. The fund aims to accelerate the transition to renewable energy within Apple's supply chain in China.
Managed by Schroder Capital, the fund is targeted to drive an annual increase of 1.1 million megawatt-hours of renewable energy generation. This power, sourced from wind and solar projects, will be fed into China's grid. The fund has already provided preliminary investment for projects including a 260-megawatt wind farm in Guangxi and a 50-megawatt wind farm in Shandong, both of which have commenced construction.
Beyond renewable energy generation, Apple is collaborating with suppliers like Lotte Chemical and Luxshare Precision to electrify aluminum smelting processes. A demonstration of induction heating technology for this purpose has been successful and is being scaled for MacBook Air production. The company is also piloting heat pumps and electric industrial boilers at manufacturing sites.
This initiative is part of Apple's broader goal for its global supply chain to be 100% powered by renewable energy by the end of 2030. The company is also providing additional funding to environmental organizations in China, including the China Green Carbon Sink Fund for sustainable forest management and urban carbon sink initiatives.