- China and Apple have formed the China Clean Energy Fund
- The project will supply 134 megawatts of clean energy to China’s national grid
Apple launched the first of its kind China Clean Energy Fund in 2018 to connect suppliers with clean energy projects in China. Along with Apple, 10 Chinese suppliers have committed to investing a sum of almost US$300 million by 2022. The goal is to produce one gigawatt of renewable energy, which should under ideal conditions be able to power about 750 000 houses.
The first three investments have already started to bear fruit. The Concord New Energy Group Limited developed the Concord Jing Tang and Concord Shen Zhang Tang wind farms in Hunan province, which together have generating capacity of 48 megawatts. The Fenghua Energy Investment Group developed a third farm in Hubei province, which can generate 38 megawatts of energy.
Apart from the positive environmental impacts of generating clean energy, the investments have boosted local economies. Concord Jing Tang and Concord Shen Zhang Tang have uplifted Dao County, which is classified by the Chinese state as a poverty county. All three investments are assisting their provinces in reaching compulsory energy goals set by the government.
The China Clean Energy Fund is an initiative that will help Apple to reach its sustainability goals. Apple and its suppliers will collectively generate over four gigawatts of renewable energy worldwide, of which China will account for a quarter.