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Apple signs JV with CleanMax for renewable energy expansion in India

2024-05-20

CleanMax, a leading renewable energy provider in Asia, has announced a landmark joint venture with Apple to enhance renewable energy projects across India, marking a significant advancement in the country's green energy sector. As part of this collaboration, CleanMax has successfully installed 14.4 MW of rooftop solar installations across six industrial sites in India, expected to mitigate approximately 207,000 tons of CO2 emissions over their operational life. This partnership supports essential renewable energy financing, enabling industries to transition to renewable energy sources and optimise their energy expenses. The initiative aims to accelerate the development of renewable energy projects nationwide, highlighting a pivotal step in promoting environmental sustainability.

To address its expanding operations in India, Apple has partnered with CleanMax to invest in a portfolio of six rooftop solar projects totalling 14.4 megawatts. This added capacity provides a local solution to power Apple?s offices, its two retail stores in the country, and other operations in India. Apple, which first achieved 100 percent renewable energy for its global corporate operations in 2018, reiterated its commitment to its 2030 climate goal in a post on the Apple newsroom.

?Clean energy and water are foundational to healthy communities and essential building blocks for a responsible business,? said Lisa Jackson, Vice President of Environment, Policy & Social Initiatives, Apple. ?We?re racing toward our ambitious Apple 2030 climate goal while taking on the long-term work to transform electrical grids and restore watersheds to build a cleaner future for all.?

Kuldeep Jain, MD, CleanMax, expressed his enthusiasm about the venture: ?CleanMax is proud of its joint venture with Apple. Our mission is to be a sustainability partner to corporates, and we consider this joint-venture to be a significant milestone in our journey. It showcases an industry-leading approach to creating green energy assets. The growing interest from other consumer brands in such joint ventures is a positive sign of the shift towards sustainability.?

As India accelerates its transition towards a carbon-neutral future, corporations are at the forefront of contributing to the nation's renewable energy targets while realising cost savings and enhanced energy security. Indian corporations are leading in this landmark shift towards sustainable business practices.

(Source: ET Energy)