China

China

Apple-backed fund installs Chinese trio

A fund set up by technology giant Apple has completed three onshore wind projects in China with a combined 134MW capacity on its way to developing 1GW.

The 48MW Concord Jing Tang site in China was funded by Apple and its local suppliers
The 48MW Concord Jing Tang site in China was funded by Apple and its local suppliers

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The China Clean Energy Fund was launched by Apple in 2018 and has received funding from the Silicon Valley firm and ten of its local suppliers.

It aims to invest $300 million in renewables by 2022, backing 1GW of new capacity in China.

It has just completed its first three projects: Concord Jing Tang and Concord Shen Zhang Tang, which both have 48MW, plus a third 38MW site.

Apple said the fund allows smaller companies to become active within the renewables space at a larger scale than they would do alone.

"The China Clean Energy Fund has enabled us to invest in a great many renewable projects at a much higher capacity. This just wouldn’t be possible on our own," said Hao Peng, the president of Apple supplier Sunway Communication.

Globally, Apple and its suppliers are targeting 4GW of renewables capacity by 2020 to cover a third of the company’s global manufacturing demand.

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