Apple Hits $2.8B on Green Bond Spend to Create 1.2 Gigawatts of Clean Energy

by Emily on March 21, 2021

in Apple, Tech News

Apple has just recently completed its renewable projects which aim to bring clean energy to local communities whilst reducing carbon emissions. A part of the company’s planned $4.7 billion Green Bond spend, the projects will generate 1.2 gigawatts of renewable energy worldwide, with Apple adding more than 350 megawatts of newly installed renewable energy just last year in Illinois, Nevada, Virginia and Denmark.

According to Apple, they have allocated $2.8 billion out of the $4.7 billion total raised. Some of the projects funded are linked to Apple directly, generating power for the company’s very own data centers, while others are more general, that is, feeding clean power into the grid.

According to the press release, the spending included power purchase agreements with wind farms across America and the opening of a solar project in Denmark.

A green bond is a type of fixed-income instrument that is meant to fund projects that have positive environmental and climate benefits.

Apple started funding clean power projects back in 2016 via its green bond, the biggest of its kind ever offered. The tech giant promised a total spend of $4.7 billion, and provided an update through its Annual Green Bond Impact Report.

Apple also said it is making huge strides on its promise to become carbon neutral across its entire business, product life cycle and manufacturing supply chain by the year 2030.

In 2019, Apple became the biggest user of solar power in the US. In its latest press release, Apple listed many examples of its latest green projects: an onsite solar project in Nevada and Virginia, a wind farm in Chicago and the biggest onshore wind turbines in Denmark.

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