Apple's Chinese clean energy fund invests in 134-MW wind portfolio

Apple Inc (NASDAQ:AAPL), through its China Clean Energy Fund, has invested in three Chinese wind parks with a combined capacity of 134 MW, the US technology giant said on Wednesday.

The portfolio includes the Concord Jing Tang and Concord Shen Zhang Tang wind farms, each with a capacity of 48 MW. Located in Dao County, Hunan province, the plants were developed by Concord New Energy Group Ltd. A 38-MW wind park in Hubei province, developed by Fenghua Energy Investment Group Co Ltd, is the third asset in the portfolio.

Financial details about the transaction were not provided.

Apple launched its USD-300-million (EUR 273.8m) China Clean Energy Fund in July 2018 in partnership with 10 initial suppliers, with the goal of investing in more than 1 GW of renewable energy projects in China by 2022. The three new Chinese wind parks are expected to generate about one-tenth of the anticipated overall project total, the US group said.

Since 2018, Apple has been powering all of its global facilities with clean energy and so far 44 of the Cupertino-based iPhone maker’s manufacturing partners in 16 countries have committed to powering their Apple production with 100% clean energy. Apple said that together with its suppliers it will generate more than 4 GW of new clean energy worldwide by 2020.

(USD 1.0 = EUR 0.913)

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