Apple Clinches $850 Million Deal With First Solar for Renewable Energy
An Apple Inc. store in Hong Kong.
Photographer: Jerome Favre/BloombergThis article is for subscribers only.
Apple Inc. is investing $848 million in a solar farm to harvest electricity in a partnership with First Solar Inc.
Apple will receive power from 130 megawatts of First Solar’s California Flats Solar Project in Monterey County, California, under a 25-year power-purchase agreement, the companies said in a statement on Tuesday. First Solar shares rose 2.1 percent in extended trading, adding to a 4.8 percent gain to $48.54 at the close in New York.