Source: Apple
Apple has now spent US$2.8B to help generate 1.2 gigawatts of clean energy as part of its Apple Green Bond Initiative. The company has released an update through its Annual Green Bond Impact Report.
The company has promised to spend a total of $4.7B for this initiative. Some projects are directly tied to generating power for its data centers, while others are for feeding clean energy into the grid.
According to 9to5Mac, a green bond is similar to a conventional bond, where a company will raise money through selling paper that offers a fixed return by a fixed date. But the proceeds will be earmarked for environmentally friendly programs.
Some of the recent Apple investments in renewable energy are the following:
Onsite solar project outside of Reno, Nevada: A 180-acre site located within the Reno Technology Park is now providing power to Apple's Nevada data center.
Wind farm outside of Chicago: A 112-megawatt virtual power purchase agreement with this wind farm in Illinois covers Apple's electricity use in the Chicago region.
Solar project in Fredericksburg, Virginia: Through an innovative agreement, Apple worked with Etsy, Akamai, and SwissRE to support the development of 165 megawatts of renewable power through a solar photovoltaic project outside Fredericksburg, Virginia, which is now delivering energy to the broader electric grid in the region.
Largest onshore wind turbines in Denmark: Apple has completed the construction of two of the world's biggest onshore wind turbines, a source of clean, renewable energy that is now operational. Located near the Danish town of Esbjerg, the 200-meter-tall turbines are expected to produce 62-gigawatt hours each year—enough to power almost 20,000 homes—and will act as a test site for powerful offshore wind turbines. The energy produced at Esbjerg will support Apple's data center in Viborg, with all surplus energy going into the Danish grid.
Apple revealed in July that it aims to become carbon neutral across its entire business, manufacturing supply chain, and product life cycle by 2030. Its global corporate operations are already carbon neutral, but it wants every Apple device sold to net-zero climate impact.