Apple is collaborating with a First Solar, an American photovoltaic manufacturer, to build a 1300-acre solar farm in Monterey, California. The energy generated will be used to power Apple's new headquarters which is next to Interstate 280 in Cupertino.
The solar farm has enough capacity to power 60000 homes. It will generate 130 megawatts of solar power under a 25-year purchase agreement and will cover all Apple offices and stores in California.
The project will cost $850 million.
The project will cost $850 million.
Tim Cook has been really responsible in making dynamic, business-oriented changes after he took over the reins at Apple as CEO. Apple has been really aware about the climate change and it's adverse effects and will provide an impetus for others to utilize green energy.
Another fact which came to light is that all of Apple's data centers run on renewable energy.
After the agreement was announced, Apple's stock rose by 2% and First Solar's stock rose by 3%.
Also, Apple became the 1st company ever to have a market cap in excess of $700 billion.
Another fact which came to light is that all of Apple's data centers run on renewable energy.
After the agreement was announced, Apple's stock rose by 2% and First Solar's stock rose by 3%.
Also, Apple became the 1st company ever to have a market cap in excess of $700 billion.