NOVEMBER 20248APPLE MAKES LANDMARK MILESTONE BY ESTABLISHING RESEARCH WING IN INDIAGLOBAL SOLAR INDUSTRY INCHING CLOSER TO 11 TW RENEWABLE ENERGY GOALThe global solar industry has reached a major milestone, surpassing 2 terawatts (TW) of installed capacity--enough to power around 92 million U.S. India may soon play a significant role in the development of Apple's new products, including research, design, and testing. Apple has incorporated a wholly owned subsidiary in India, named Apple Operations India. According to a regulatory filing by the new entity, its activities will include the procurement of engineering equipment, leasing of facilities, employing engineers for hardware development, and providing failure analysis services to other group companies.Apple Operations India's filing also mentions that Apple Inc. has provided a letter of comfort, assuring operational and financial support to the subsidiary "for the foreseeable future." This move marks a significant step, as Apple has yet to conduct hardware design and testing in India--an initiative that would be a first for the country. Currently, Apple carries out its R&D in locations like the US, China, Germany, and Israel.This development also represents a shift for Apple, as it sets up its first direct subsidiary in India, whereas previously its Apple India entity was under the ownership of Apple Operations International, based in Ireland. The manufacturing of Apple products in India is currently outsourced, but the new subsidiary will support third-party manufacturers and contractors by providing hardware, software, and other related services. households. Sonia Dunlop, CEO of the Global Solar Council, emphasized the challenge of tracking these small projects, as many go unregistered in various countries. The industry is now focused on scaling up to 8 TW by 2030, a target that data suggests is achievable. Reaching this capacity would contribute more than half of the 11 TW of renewable energy capacity needed to meet a U.N. climate goal established at last year's climate conference in Dubai.This rapid growth is unprecedented, with more solar capacity added in the last two years than in the prior 68 years combined, according to exclusive data from the Global Solar Council shared with Reuters. To raise financing to help hit the goal, the council will launch an International Solar Finance group at the next round of U.N. talks beginning on Nov. 11 in Baku.The Council's figures provide the most comprehensive view to date, as they include small, often unregistered rooftop installations, which are frequently excluded from official government data. It wants to connect funds, multilateral banks, private finance and international institutions to drive down the cost of capital in emerging and developing economies to 5 percent from 15 percent.This ambitious goal underscores the need for continued innovation and policy support in the renewable energy sector, particularly in expanding accessible, small-scale solar installations. TOP STORIES
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