Stock to Watch: Apple (NASDAQ AAPL) Purchases 100 Acres Of Land For Solar Farm

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In an interesting move, Apple Inc. (NASDAQ AAPL) recently reached another deal with Claremont, North Carolina to acquire 100 acres of land for a third solar farm. This project from Apple will bring more land into the city’s corporate limits as well as bring roughly 75 jobs if not more. The land is worth about $1.4 million.

Apple has bought up 100 acres of land in a North Carolina town with plans of converting it to a solar farm. This solar farm will be Apple’s third in that area that surrounds the Maiden, North Carolina iCloud Center. The latter has a 100-acre solar installation which puts out 20 megawatts of power.

Lisa Jackson (vice president of Environmental initiatives) explained that Apple’s data centers are run by renewable sources of energy such as biogas and solar energy for 94 percent of corporate structures. Jackson added that the company’s next goal is to transform Apple’s retail stores with renewable energy.

Apple Inc (NASDAQ AAPL): Apple’s plans for the acquired land

Apple Inc (NASDAQ AAPL) will give two parcels of land back to the city for use of public projects or recreation spaces. Next, Apple needs to take the requisite permits and fulfill other obligations to complete the project. Construction of the solar farm is expected to be complete in five years.

Apple’s actual plans for the solar farm are unclear although the five-year planning horizon could suggest a long-term vision. Currently, the data center measures about 500,000 square feet and the plans presented show a building of equal-size being built next door.

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Apple Inc financial news (NASDAQ AAPL)

As the demand for greener technologies grows, we can expect more exciting changes from tech companies like Apple Inc (NASDAQ AAPL). Years ago, the environmentally friendly organization Greenpeace campaigned against Apple over various issues including toxic iPhone hardware and non-recyclable parts. But since 2007, the company has been making significant strides in transforming Apple into a greener company. All of that paid off when Greenpeace included Apple Inc. (NASDAQ:AAPL) in their Guide to Greener Electronics. Last April, the organization praised Apple’s green centers for the use of renewable energy. This certainly is a positive news for the Apple Inc stock (NASDAQ AAPL).

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