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

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 added capacity provides a local solution to power Apple’s offices, its two retail stores in the country, and other operations in India,” Apple said in its blog post.

The partnership boasts an innovative business model, wherein the environmental benefits accruing from the financed projects will help Apple reduce the carbon footprint associated with its India operations, CleanMax said in a statement.

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

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.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.