Apple to invest up to RMB 720M in new clean energy investment fund in China

Apple (AAPL) announced a new investment fund to expand clean energy capacity in China as part of the company’s efforts to transition its supply chain to 100% renewable energy by 2030. Apple has committed up to RMB 720M to launch the second tranche of the China Clean Energy Fund. With Apple’s anchor investment, the fund aims to add about 550,000 megawatt-hours of wind and solar capacity to China’s grid each year, a number that will grow as more investors join. The new fund, managed by Schroders, provides another option for companies looking to source clean energy solutions in China, including Apple suppliers, while also aiming to generate financial returns for investors.