Apple

Business Context

• Apple spent $12.72 billion on capex in fiscal 2025, up 35% year-over-year, driven by Private Cloud Compute infrastructure for AI.
• The company plans a 250,000-square-foot AI server manufacturing facility in Houston opening in 2026, plus data center expansions in North Carolina, Iowa, Oregon, Arizona, and Nevada.
• Apple's data centers consumed 2.5 billion kWh in 2024.

Commitments

• Carbon neutral across entire supply chain and product lifecycle by 2030, with SBTi-validated target to reduce Scope 1, 2, and 3 emissions to 9.6 MtCO₂ (75% reduction from 2015 baseline).
• Over 320 suppliers representing 95% of direct manufacturing spend committed to 100% renewable energy for Apple production by 2030.
• Pledged to match every watt of customer device charging electricity with clean electricity by 2030.

Energy Strategy

A mature, geographically diversified procurement model anchored by supplier engagement, now accelerating into European markets to address AI-driven load growth and product-use emissions.

• The 2025 ENGIE Italy 15-year PPA (173 MW solar/wind) and European Energy Latvia solar PPA (110 MW) are part of a 650 MW European expansion announced October 2025.
• The second China Clean Energy Fund (2025, $99M managed by Schroders) targets 550,000 MWh/year, building on Fund #1's 1+ GW across 14 provinces.
• Solar dominates the portfolio at 2.37 GW across 22 deals, with wind at 1.02 GW; distributed solar (127 MW across 6 deals) addresses India and supplier facilities.
• Supplier-driven capacity reached 16.5 GW by April 2024, generating 25.5 million MWh and avoiding 18.5 million metric tons of emissions annually.