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Apple launches $300 million renewable energy fund in China

People walk past the Apple store in Manhattan
People walk past Apple's Fifth Avenue store, one of at least 120 Apple stores currently powered by renewable energy. Photo: John Moore/Getty Images

Apple said yesterday that it's joining with 10 suppliers to launch a new $300 million "China Clean Energy Fund" to enable its large supplier network there to expand renewable power use.

Why it matters: Corporate sourcing is increasingly a driver of renewable power deployment, and Apple's move show how it can evolve to fold in supply chains too.

Details: The tech giant announced a list of 10 suppliers that will work with the company to invest around $300 million over four years in projects that total over a gigawatt of power.

The intrigue: Via the Wall Street Journal, "Apple has gone on a charm offensive in China in recent years as it has looked to shore up its relationship with the Chinese government and consumers."

  • Apple said that joint efforts will enable suppliers "greater purchasing power and the ability to attain more attractive and diverse clean energy solutions."

The big picture:

  • "China’s government has made cutting pollution a key priority, putting pressure on local and international firms to help reduce high levels of smog in its major cities and clean up the country’s waterways and polluted soil." [Reuters]
  • Apple said in April that all of its direct operations worldwide are now powered wholly by renewables, and that nearly two-dozen suppliers have made that commitment for their Apple-related work.
Apple Inc.