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Apple invests in 4 new Chinese energy companies

(People's Daily Online)    15:12, December 08, 2016

(file photo)

Xinjiang Goldwind Science & Technology Co., Ltd. (Goldwind), the largest wind energy company in China, announced on Dec. 7 that its subsidiary, Beijing Tianrun New Energy Investment Co., Ltd. (Beijing Tianrun,) and Apple have agreed to cooperate on wind power projects to actively promote the development of green power, Thepaper.cn reported.

According to the cooperative framework, Beijing Tianrun agrees to transfer to Apple 30 percent of the equity in each of the following subsidiaries: Nanyang Runtang New Energy Co., Ltd. in Henan province; Zibo Runchuan New Energy Co., Ltd. in Shandong province; Shuozhou Pinglu Sineng Wind Power Co., Ltd. in Shanxi province; and Qiaojia Tianqiao Wind Power Co., Ltd. in Yunnan province. After the transfers, the subsidiaries will become cooperative joint ventures.

Goldwind and Apple also intend to look for other opportunities to collaborate, including those related to the direct supply and purchase of green power by Apple's manufacturing partners.

According to Goldwind, it will be the first cooperation between the two companies. The cooperation will further Goldwind's goal of actively promoting a green supply chain, help the company's direct supply and sale of green power, and enhance awareness and influence of the brand as a wind power solutions provider. It will also be of great significance in improving the utilization rate of Goldwind's wind power facilities and positively expanding the market space for its wind farms.

Apple's purpose for entering the new energy field is to promote green energy and solve its own power problem. Apple's data center is powered by renewable energy sources. Apple established its energy company in June of this year. The cooperation with Goldwind will be Apple's third investment in new energy in China. The other two agreements were made in 2015 with Zhonghuan, a Chinese company committed to semiconductor energy savings and the new energy industry.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Du Mingming, Bianji)

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