Apple is creating a $300 million fund to build solar power in China

Posted On: Jul 12, 2018   |   Posted By: Business Insider

Apple is creating a $300 million fund to build solar power in China

Apple wants its parts suppliers to use renewable energy, like it does at its stores and headquarters.
So it's investing in a $300 million fund along with its suppliers that will invest in new solar and wind projects in China.
The fund will be managed by DWS Group, Deutche Bank's asset management arm.
Apple is reaching into its cash pile to help spread solar energy and wind farms across China.
The iPhone maker has teamed up with 10 of its components suppliers to create a new $300 million fund that will invest in renewable sources of energy in China over the next four years.
The fund, called the China Clean Energy Fund, will be managed by DWS Group, Deutsche Bank's asset management arm.
The idea is that the fund can invest in new power generators so that the companies that make parts for Apple - its suppliers - have better access to renewable energy sources. In China, where many of Apple's suppliers are based, that means a lot of wind wind and solar.
Apple did not specify how much of the $300 million fund will...

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