Apple Forms JV With CleanMax To Fuel India’s Renewable Energy Adoption

Share via:

SUMMARY

The iPhone maker will invest in six rooftop solar projects across India, with a total capacity of 14.4 MW

These installations are expected to restrict carbon dioxide (CO2) emissions to the tune of 207,000 tons during their life cycle

This comes amid reports that Apple is in advanced talks with Murugappa Group and Tata Group’s Titan to make iPhone camera modules in the country

Tech giant Apple has entered into a joint venture with Mumbai-based renewable energy firm CleanMax to invest in six rooftop solar projects, with a total capacity of 14.4 MW. 

The solar projects will not only power Apple’s corporate offices and two retail stores in India but also help the smartphone major reduce the carbon footprint associated with its India operations.

These installations are expected to restrict carbon dioxide (CO2) emissions to the tune of 207,000 tons during their life cycle, CleanMax said in a statement.

The move is in line with Apple’s broader environmental efforts to become carbon neutral across its entire value chain by 2030. 

The Cupertino-headquartered company claims to have already attained 100% clean energy for its global corporate offices in 2018.

Further Apple has already begun fresh water replenishment work in some of the highest-stress regions it operates in, including Telangana and Maharashtra.

“Last year, Apple achieved its target for 100% water replenishment for the company’s corporate operations in India through its ongoing work with Uptime Catalyst Facility,” the company said.

Apple’s initiative to implement solar solutions comes at a time when the iPhone maker is doubling down on its investments in India.

Apple is moving half of its supply chain out of  China to India as it accelerates its plan to diversify beyond Beijing amid rising labour costs and the ongoing trade war between the US and China.

It was also reported that Apple’s industrial ecosystem could create 5 lakh direct jobs in India over the next three years.

Further Apple is in advanced talks with Murugappa Group and Tata Group’s Titan to make iPhone camera modules in the country.

Both Tata and Murugappa are set to receive government aid to establish a semiconductor chip foundry unit in India.

In an effort to make their supplier network more appealing to Indian workers, iPhone assemblers and suppliers Foxconn, Tata, and Salcomp are looking to provide housing to their employees.

The initial plan includes building some 78,000 housing units, of which 58,000 residential units will be built in Tamil Nadu.

 




Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Apple Forms JV With CleanMax To Fuel India’s Renewable Energy Adoption

SUMMARY

The iPhone maker will invest in six rooftop solar projects across India, with a total capacity of 14.4 MW

These installations are expected to restrict carbon dioxide (CO2) emissions to the tune of 207,000 tons during their life cycle

This comes amid reports that Apple is in advanced talks with Murugappa Group and Tata Group’s Titan to make iPhone camera modules in the country

Tech giant Apple has entered into a joint venture with Mumbai-based renewable energy firm CleanMax to invest in six rooftop solar projects, with a total capacity of 14.4 MW. 

The solar projects will not only power Apple’s corporate offices and two retail stores in India but also help the smartphone major reduce the carbon footprint associated with its India operations.

These installations are expected to restrict carbon dioxide (CO2) emissions to the tune of 207,000 tons during their life cycle, CleanMax said in a statement.

The move is in line with Apple’s broader environmental efforts to become carbon neutral across its entire value chain by 2030. 

The Cupertino-headquartered company claims to have already attained 100% clean energy for its global corporate offices in 2018.

Further Apple has already begun fresh water replenishment work in some of the highest-stress regions it operates in, including Telangana and Maharashtra.

“Last year, Apple achieved its target for 100% water replenishment for the company’s corporate operations in India through its ongoing work with Uptime Catalyst Facility,” the company said.

Apple’s initiative to implement solar solutions comes at a time when the iPhone maker is doubling down on its investments in India.

Apple is moving half of its supply chain out of  China to India as it accelerates its plan to diversify beyond Beijing amid rising labour costs and the ongoing trade war between the US and China.

It was also reported that Apple’s industrial ecosystem could create 5 lakh direct jobs in India over the next three years.

Further Apple is in advanced talks with Murugappa Group and Tata Group’s Titan to make iPhone camera modules in the country.

Both Tata and Murugappa are set to receive government aid to establish a semiconductor chip foundry unit in India.

In an effort to make their supplier network more appealing to Indian workers, iPhone assemblers and suppliers Foxconn, Tata, and Salcomp are looking to provide housing to their employees.

The initial plan includes building some 78,000 housing units, of which 58,000 residential units will be built in Tamil Nadu.

 




Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

ED Files Fresh Chargesheet, Names 25 Accused

SUMMARY A total of 25 individuals and entities have...

Ex-Binance CEO gets 4-month jail sentence for money laundering...

The term is shorter than the three-year period...

Govt Discusses Cybersecurity And Digital Financial Fraud With Fintechs

SUMMARY The government initiated the workshop to strategise on...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!