On Monday, Apple (NASDAQ:AAPL) announced that it is planning to invest around $921 million or 6 billion Danish crowns on building a new data center in Denmark which will run completely on renewable energy. Other tech companies such as Facebook (NASDAQ:FB) has also previously made announcements of its plans to also build a data center in the area.
Renewable Energy Pledge
The company is known to have been continuously expanding its efforts in promoting renewable energy and supporting environmental projects in the past couple of years. Last year, the company issued $1.5 million worth of green bonds after the Paris agreement last 2015. The green bonds were then to be recorded as one of the biggest to be given by an American Company and were able to help fund over 16 renewable energy and recycling projects.
Prior to US President Donald Trump’s withdrawal from the Paris Climate Agreement more than a month ago, the iPhone-maker pledged corporate green bonds again this time worth almost $1 billion as the company continuously showed their support for the accord between 194 nations despite Trump’s decision to withdraw.
The green bonds proceedings will be used to further finance environmental and sustainable energy projects in the future. The green bonds would also allow the company support the cause largely without having to go into their huge cash reserves in supporting clean and renewable energy projects.
The data center which would run on renewable and clean energy like the rest of Apple’s data center. This would be the second Apple data center in Denmark. The first one which was built near Viborg will be starting its operations later this year. Apple also announced a data center to be built in Ireland last 2015. Construction of the said project has yet to start.
Due to Denmark’s number of wind and biomass energy, more and more companies are building data centers in the country. This is expected to boost the country’s technology sector.
Other News
In other Apple news, the company’s production of the next iPhone set to be released this September is reportedly underway with the company planning to release another iPhone series next year. According to various reports, Apple has began its design stages for the next iPhone.
Previous reports have shown that the company, which has been acquiring a number of deals for an OLED display supply was also to make way for a 2018 iPhone series, which will be featuring an OLED display. Apple will also be reportedly releasing an iPhone with an OLED display out of the three it plans to unveil this September.