An Apple store in Chengdu, Southwest China's Sichuan Province. Photo: IC
Apple announced on Monday the launch of a new investment fund to expand clean energy capacity in China, committing up to 720 million yuan ($100.31 million) to kick off the second phase of its China Clean Energy Fund — a key initiative aimed at reshaping the country's energy landscape.
"Two thirds of our supply chain here is already running on renewable energy and this will help further our goal of running on 100 percent renewable energy by 2030," said Tim Cook, CEO of Apple, seen on his Weibo account.
Managed by Schroders, the fund aims to add about 550,000 megawatt-hours (MWh) of wind and solar power to China's state grid each year. However, its reach is expected to expand as more investors join the initiative, Apple said.
The fund also provides a new channel for companies including Apple's suppliers, to procure impactful clean energy solutions in China, while trying to deliver attractive financial returns for investors.
The blueprint for this new fund stems from the success of the first China Clean Energy Fund, launched in 2018. That initiative exceeded its targets, with more than 1 gigawatt of wind and solar projects established across 14 provinces in China. It opened up renewable energy access for suppliers of all sizes, catalyzing the development of new projects across the nation, according to the company.
Phase two of the fund aims to replicate this model, supporting new renewable energy projects—including those in early development stages.
"Our suppliers in China are making remarkable strides in smart and green manufacturing," said Jeff Williams, Apple's Chief Operating Officer, emphasizing that the launch of phase two of the China Clean Energy Fund will strengthen collaborations with suppliers nationwide, fostering innovation and creating new opportunities for a sustainable future, according to the release.
Apple's CEO Tim Cook attended the 2025 China Development Forum (CDF) in Beijing yesterday, his first visit to China this year.
Meanwhile, Apple is expanding cooperation with the China Development Research Foundation (CDRF) for education in rural China.
Cook's frequent visits to China, including several in 2024, highlight Apple's focus on deepening ties with local partners and expanding investments in China's supply chain and R&D. Cook's efforts align with Apple's broader strategy to foster innovation and strengthen its position in China, a critical market for future growth.
Global Times
