Apple breaks the $700bn barrier after solar deal
Apple products are loved, nay adored with cult like devotion. However, the one bug bear we always hear about is the incessant need to charge the things. Perhaps conscious of just how vulnerable their products are to power outage, ( and how meaningless their customer’s lives would become without access to a functioning iPhone) Apple have announced a partnership with First Solar to build a $850 million solar energy plant in California.
This is a shrewd move; California has growing energy demand and a creaking and unreliable generation infrastructure. Apple is based there and will be perfectly aware of the threat that irregular energy supplies pose to it’s business. Apple CEO Tim Cook is quoted in the FT, saying that the 1300 acre solar plant will provide renewable energy for its new campus and retail stores in California and make ‘very significant savings’ in Apple’s energy costs. ‘We’re doing this because it’s right to do’, he added.
Where Apple lead others will follow. Business who fail to take charge of their energy supply will be weaker for it.
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