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Apple and China: hand in hand to clean energy

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Apple and China: hand in hand to clean energy
July 13
09:00 2018

Together with ten suppliers, Apple is going to organize an investment fund working with clean energy projects in China. The size of the fund will be $ 300 million.

The Chinese clean energy fund will receive money from Apple for 4 years. The Fund will finance the projects on creation of renewable energy capacity of more than 1 GW. They will be used to provide Apple suppliers who are part of the fund.

Despite tense relations between Washington and Beijing, as well as tightening in the trade dispute, the technology giant is trying to develop business in China.

In early July, America introduced a 25% tariff on the export of goods from China, the amount of which is $ 34 billion. In response, China imposed duties on more than 500 items from the United States.

The dispute between the powers puts Apple in a difficult situation against the background of the fact that some devices are assembled in China and exported to the United States. At the same time, America accounts for a third of all sales. However, the Chinese Apple market has also grown recently. About 20% of all devices are sold here.

This year, Apple has decided to switch to renewable energy sources. They will be used in data centers, offices and shops. This approach fully coincides with the priorities of the Chinese authorities regarding renewable energy.

 

The material was prepared with the participation of Anjela Chromova,
a leading analyst of the brokerage company CT Trade

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