The Wall Street Journal: Apple launching $300 million fund to develop clean energy in China

The Wall Street Journal: Apple launching $300 million fund to develop clean energy in China

Apple Inc. said it would launch a $300 million clean-energy fund for China with 10 of its suppliers, extending the U.S. tech giant’s commitment to China at a time of mounting trade tension between its home country and its most important overseas market.

The China Clean Energy Fund, which Apple AAPL, +1.68%   said it and its partners will fund over four years, will invest in and develop-clean energy projects totaling more than 1 gigawatt of renewable energy in the country. Those investments will be used to power operations of the 10 participating suppliers, including Taiwan-based Pegatron Corp. 4938, +0.80%   and Wistron Corp. 3231, +0.00%  , which assemble iPhones.

Apple has gone on a charm offensive in China in recent years as it has looked to shore up its relationship with the Chinese government and consumers. Chief Executive Tim Cook, who travels regularly to the country, last year spoke at a major Chinese government conference, around the time Apple announced investment in two research-and-development centers in Shanghai and Suzhou.

An expanded version of this report appears on WSJ.com.

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