Apple invests $99.2 million in renewable energy in China

Apple announced an investment of about 720 million Chinese yuan, which is roughly $99.2 million USD, to expand renewable energy in China. This is part of Apple's commitment to using 100% renewable energy in its supply chain by 2030. The new funding will be used for the second China Clean Energy Fund and is expected to add 550,000 megawatt-hours of wind and solar energy to China's power grid each year. Apple hopes that more investors will join in and boost this number over time. Jeff Williams, Apple's COO, praised the collaboration with suppliers in China for advancing smart and green manufacturing. He expressed pride in the company’s efforts to promote innovation and sustainability. The first China Clean Energy Fund was launched in 2018 and helped create over a gigawatt-hour of new renewable energy projects in the country. Apple is already using renewable energy for about two-thirds of its production in China. This investment aims to build on that success as Apple continues its journey toward renewable energy goals.