Apple plans to spend $848m to buy power from solar power generation company, First Solar to supply electricity for Apple’s new campus in Silicon Valley.
The solar power will also be used by Apple to power its other offices and 52 stores located in the US state.
Under the 25 year power purchase agreement, First Solar will supply 130 megawatts of solar power from its Flats Solar Project in Monterey County, California.
First Solar chief commercial officer Joe Kishkill said, "Apple is leading the way in addressing climate change by showing how large companies can serve their operations with 100 percent 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."
California Flats Solar Project is located on a 2,900-acre property and the project covers 3% of the property owned by Hearst Corporation.
Construction on the project is expected to start in mid-2015 with scheduled completion by the end of 2016.
