Apple forms energy unit with plans to sell excess renewable power
Solar panels. Author: John S. Quarterman. License: Creative Commons, Attribution 2.0 Generic.
US technology behemoth Apple Inc (NASDAQ:AAPL) has recently set up an energy subsidiary and asked regulators for permission to sell excess power on wholesale markets across the country.
The newly-created unit, Apple Energy LLC, wants to sell energy, capacity, and certain ancillary services to any purchaser that is not a franchised public utility affiliate, according to documents filed with the Federal Energy Regulatory Commission (FERC) on June 6. It seeks to start power sales on August 5, 2016 in the Southeast, Southwest, Northwest, Northeast, Central, and Southwest Power Pool Regions.
Presently, Apple owns or controls renewable energy generation facilities that power its data centres. Its portfolio includes solar photovoltaic (PV) and biogas plants totalling 67.5 MW in Catawba, North Carolina, some small hydropower facilities in Oregon, a 19.9-MW solar park in Lyon County, Nevada, and a 50-MW PV project under construction in Pinal County, Arizona.
In addition, the company has a 25-year power purchase agreement (PPA) for 130 MW from a solar PV plant being built by California Flats Solar LLC. It also owns two behind-the-meter generating facilities totaling 18 MW of capacity, according to the filing.
In February, Apple issued the largest ever US corporate green bond -- of USD 1.5 billion (EUR 1.33bn) -- with plans to spend the proceeds on projects that reduce impact on climate change by using renewable energy sources and driving energy efficiency in Apple’s facilities, products and supply chain.