Multinational software company Apple has invested $848 million to receive 130MW of clean power from a soon-to-be-built solar project in Monterey County, Calif.
Project developers, First Solar, signed a 25-year power purchase agreement (PPA) with Apple to receive clean energy from their 150MW California Flats solar project, making this the largest clean energy agreement with a commercial user in the sector, says First Solar.
Commenting on the endeavors of Apple is Chief Commercial Officer of First Solar, Joe Kishkill: “Apple is leading the way in addressing climate change by showing how large companies can serve their operations with 100% clean, renewable energy”.
“Apple’s commitment was instrumental in making this project possible and will significantly increase the supply of solar power in California. Over time, the renewable energy from California Flats will provide cost savings over alternative sources of energy as well as substantially lower environmental impact”, Kishkill added.
The project will begin construction in mid-2015 and will be completed by the end of 2016.
Power utility Pacific Gas & Electric has signed an additional PPA to receive the remainder 20MW generated.
(Pic Credits: electricitypolicy)