Apple invests $848 million in solar energy project

February 16, 2015 1 By Stephen Vagus

Apple shows strong support for California Flats Solar Project

Apple is making a major investment in solar energy. The company has announced that it will be injecting $848 million into the California Flats Solar Project. The large-scale project encompasses some 2,600 acres and is located in Monterey, California. The California Flats Solar Projects makes use of technology developed by First Solar, a leading solar energy company. Altogether, the project produces 280 megawatts, and Apple has formed a power purchase agreement to make use of a portion of this energy.

Company has plans to power its data centers with renewable energy

Apple is the latest large corporation to invest in the solar energy space. The company has an overarching objective to heavily invest in clean power and support clean technology. Earlier this month, the company announced that it will be building a new data center, which will be powered by solar energy. The new data center will be located in Arizona and will cost Apple some $2 billon to develop. Apple’s other data centers are being powered with a mix of solar power, wind, and geothermal energy.

Apple to be supplied with 130 MW of power through power purchase agreement

Apple Solar Energy ProjectSome 130 megawatts of energy from the California Flats Project will be supplied to Apple through a power purchase agreement. This energy is enough to power the company’s new headquarters in Cupertino, which is approximately 150 miles north of the solar project. The energy could also be used at other offices that Apple operates in the area. The solar project also provides energy to 52 retail stores and other such facilities in California.

Energy credits will help Apple reduce its spending on electrical power

Apple will not be using the energy from the solar project directly, however. Instead, the company will be given credit from Pacific Gas and Electric, which will be used to cut down on the company’s energy expenditures. Companies like Apple are showing interest in solar energy and other forms of clean power as a way to become more environmentally friendly and reduce their energy costs.