Apple invests $848 million in largest solar purchase

Signal of change / Apple invests $848 million in largest solar purchase

By Futures Centre / 13 Feb 2015

Apple is investing $848 million in a new solar farm to power its facilities and data centres south of San Francisco. The digital giant has agreed to purchase 130MW of First Solar's California Flats Solar Project in Monterey County over a 25-year period. The farm's remaining 20MW will be sold to Pacific Gas & Electric.

Shares in First Solar surged 5% when the news was released. The companies say their 25-year power purchase agreement is the largest to date for clean energy provided to a commercial end user. 

Image: Arild Finne Nybø / Flickr

So what?

Data centres and digital facilities represent a burgeoning demand for lasting and reliable sources of energy. Such long-term investment could accelerate the tipping point in the transition from a fossil-based system to renewables. To what extent will digital giants dominate this new system? 

Sources

http://www.forbes.com/sites/miguelhelft/2015/02/10/apple-to-build-850m-solar-farm-to-power-all-california-operations/ 

What might the implications of this be? What related signals of change have you seen?

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