Apple announces $300 mln clean energy fund in China

cnbc.com General,  Company 2018-07-13 08:41:00

Apple in partnership with several of its suppliers announced on July 12 a $300 million fund for investing in renewable energy projects in China. The fund, entitled China Clean Energy Fund, aims to produce at least 1 GW of energy — or enough to power about 1 million homes — through fully renewable means over the next four years.


Renewable energy has long been part of Apple's corporate DNA. As far back as a decade ago, Apple was already scoping out renewable energy sources for its North Carolina data center. The company commissioned a Bay Area solar contractor build a dedicated solar energy facility for the center, and ended up with three local solar farms and a bio-gas fuel-cell for the data center, Fast Company reported.


In April it debuted Daisy the recycling robot, which dissembles old iPhones, and announced that its global facilities across 43 countries are powered by 100% clean energy. More recently, the company has turned its focus toward its supply chain, working with U.S. and Canadian aluminum suppliers to cut down on greenhouse gas emissions.


"Apple's mission has never wavered. We are here to change the world... it's why we continuously strive to do more with less—reducing our impact on the earth we all share, while expanding and redefining the possibilities ahead," Apple wrote in its 2018 environmental responsibility report.


The China Clean Energy Fund continues those efforts and, if successful, will serve as a model that may be replicated in other markets.


As energy demands in China have skyrocketed, the Chinese government has made a considerable push toward clean energy sources, both to help clean up air quality in China's cities and to invest in the industries of the future, according to David Sandalow, inaugural fellow at Columbia University's Center for Global Energy Policy.


"Traditionally China has relied on coal, but in the past several years renewable energy has grown dramatically and is starting to take away part of coal's market share — and with a strong push from China's government," Sandalow said.


Thanks to those efforts, China last year installed more solar panels than the rest of the world combined and led the world in wind and hydro-power.


China may be a receptive market for incubating renewable energy initiatives, but for smaller companies with limited resources, transitioning to clean energy can be challenging. Apple hopes the scale of the China Clean Energy Fund will give fund participants greater purchasing power to pivot toward clean energy.


The first wave of Apple suppliers participating in the fund include Catcher Technology, Compal Electronics, Corning Incorporated, Golden Arrow, Jabil, Luxshare-ICT, Pegatron, Solvay, Sunway Communication and Wistron. The China Clean Energy Fund will be managed by DWS Group, a subsidiary of Deutsche Bank.


(Writing by Alex Guo  Editing by Harry Huo)
For any questions, please contact us by inqury@fwenergy.com or +86-351-7219322.

Share this article
Connect with us

Editors Recommendations

1 Weekly global coal market news summary (Feb 18 – Feb 22) 2019-02-22

Growing Indonesian coal prices dampen Chinese buying interest Chinese buyers shunned purchases of Indonesian thermal coal as its prices have been rising sharply, traders reported. &nb

2 China Coal Daily Track (Feb 22) 2019-02-22

Thermal coal Domestic market Production area Mines' production resumption went slowly in Yulin district of Shaani; local large mines maintained normal production and mainly supplied

3 Growing Indonesian coal prices dampen Chinese buying interest 2019-02-22

Chinese buyers shunned purchases of Indonesian thermal coal as its prices have been rising sharply, traders reported. On February 21, the Fenwei CCI Index for Indonesian 3,800 kcal/kg NAR

4 China spot thermal coal heads down; March outlook divided 2019-02-22

China's spot thermal coal market headed down on February 21 after several days of faltering, meeting expectations of a halt of lingering strength owing to utilities' slack buying. Despite

5 China customs testing coal imports for environmental reasons: foreign ministry 2019-02-21

China's customs administration is testing coal imports for reasons including environmental protection, a foreign ministry spokesman said on February 21. Spokesman Geng Shuang made the com

6 China's Dalian port bans Australian coal imports, sets 2019 quota, source 2019-02-21

Customs at China's northern Dalian port has banned imports of Australian coal and will cap overall coal imports for 2019 through its harbours at 12 million tonnes, an official at Dalian Port Group tol

7 Thermal coal traders scramble to sell at N China ports; prices stop rising 2019-02-21

Traders were generally scrambling to sell spot thermal coal at northern Chinese ports, in response to shrinking buying activity from power plants. This has resulted in a pause of price ri

8 Indonesian coal CFR China price spikes to 4-mth high 2019-02-21

Prices of Indonesian thermal coal sold to China jumped to a four-month high, prompted by weak competition from Australia coal, shrinking supply and robust demand from Indian buyers. On Fe

9 China Coal Daily Track (Feb 21) 2019-02-21

Thermal coal Domestic market Production area The majority of coal mines in Yulin of Shaanxi that halted production after an accident haven't nailed down resumption schedules, and some may

10 China Jan power coal price index down to 17-mth low to 511 yuan/t, NDRC 2019-02-21

China's monthly-issued price index of power generation coal declined 2.14% month on month to 511.02 yuan/t in January, hitting a 17-month low since September 2017, showed data from the National Develo

Most Read Articles

1 China's import coal ban may last for months; Australian miners suffer 2019-02-11

China is said to possibly maintain its tight controls on import coal for the coming months after February, an expectation among market players shortly after the nation strengthened coking coal import

2 China coal imports surge to new high in Jan amid delayed clearance 2019-02-14

China's coal imports surged to a new high in January since February 2014, Chinese customs data showed on February 14, more than triple of the size of December. January's coal imports tota

3 China's spot thermal coal prices rebound to 600 yuan/t; bullish sentiment grows 2019-02-15

China's spot thermal coal prices rebounded to 600 yuan/t ($88.6/t) at northern ports after holding flat for six days following five-day lose since late-January, fanning bullish sentiments among market

4 Registration kicks off for 9th (2019) Global Coking Coal Resource & Market Summit 2019-02-14

Hosted by China's coal industry portal sxcoal.com, the 9th (2019) Global Coking Coal Resource & Market Summit is set to convene in Beijing in April 10-11, 2019. China's cok

5 Australia to invest more in coal projects in next few years 2019-02-12

Australia is expected to increase investment in coal projects significantly in the next few years, according to the latest "Resources and Energy Quarterly" report for December quarter published by the

6 Upbeat signs emerge in China thermal coal market 2019-02-13

China's coastal thermal coal market ran a bit stronger as participants gradually returned from the Spring Festival holiday, with offer prices inching higher two days after the weeklong break.

7 China's coal industry vitality to weaken in 2019, experts 2019-02-15

The economic vitality of China's coal industry is likely to weaken in 2019 compared with last year, and risks of supply glut may re-emerge if proper regulatory measures are not in place, said Yue Fubi

8 Chinese utilities' post-holiday coal buying slack; import policy in spotlight 2019-02-12

Most utilities in China were still staying on the sidelines after the weeklong Spring Festival break, with market sentiment shadowed by a lack of clarity on the government's import policy.

9 Australian thermal coal prices fall to lowest since Apr 2018 on weak China demand 2019-02-11

Australian thermal coal prices have fallen to their lowest since April 2018 as a slowdown in Chinese imports dents demand for the commodity. Spot cargo prices for Australian thermal coal

10 China import thermal coal trades remain light on lukewarm buying 2019-02-14

Trades of thermal coal remained light in Chinese seaborne import market so far this week, as domestic power plants were reluctant to restock given their high stockpiles and customs clearance issues im

Scan to download sxcoal.com mobile APP

X