Trusted Reviews is supported by its audience. If you purchase through links on our site, we may earn a commission. Learn more.

Apple to spend some of its giant cash horde on $848m solar farm

Apple CEO Tim Cook has announced plans for a new 1,300 acre solar power farm in Monterey, California.

Speaking at the Goldman Sachs Technology and Internet Conference (via CNBC), Cook claimed the firm is investing a whopping $848m (around £555bn) into the project, which will begin in mid-2015.

The partnership with Arizona firm First Solar will see Apple supplied with electricity to power its new Cupertino campus for the next 25 years.

The farm, which will be completed next year, will also provide enough electricity to power 60,000 homes and will join the company’s other solar farms in North Carolina and Nevada.

During the conference, Cook pointed out all of Apple’s data centres are run on renewable wind, hydro, geothermal and solar energy.

Of course, Apple certainly isn’t short of the cash to spend on such a venture. The firm hit its highest ever value on Tuesday.

The world’s most valuable firm closed with a market cap of $710 billion (around £456 billion), the highest ever for a company in the United States.

Read more: Apple iPhone 6 Plus review

Meanwhile, Cook also touched on his expectations for the Apple Watch, which will be released in April in the United States.

Cook said “everyone will be surprised about the breadth of what it will do,” while likening its potential impact to that of the iPod.

He added: “Everybody’s going to have their favorite thing. I use mine it in the gym to all the time to
track my activity level. If I sit for too long it will actually tap me
on the wrist to get up ad move. A lot of doctors believe that sitting is
the new cancer.”

Do you think the Apple Watch could be a defining product for the company? Let us know your thoughts below.

Why trust our journalism?

Founded in 2004, Trusted Reviews exists to give our readers thorough, unbiased and independent advice on what to buy.

Today, we have 9 million users a month around the world, and assess more than 1,000 products a year.

author icon

Editorial independence

Editorial independence means being able to give an unbiased verdict about a product or company, with the avoidance of conflicts of interest. To ensure this is possible, every member of the editorial staff follows a clear code of conduct.

author icon

Professional conduct

We also expect our journalists to follow clear ethical standards in their work. Our staff members must strive for honesty and accuracy in everything they do. We follow the IPSO Editors’ code of practice to underpin these standards.