Apple to Form Renewable Energy Company

Apple Inc. plans to sell excess electricity from its rooftop solar panels at its California headquarters under a newly formed energy company.

A subsidiary named Apple Energy LLC applied with the U.S. Federal Energy Regulatory Commission (FERC) to sell power from the rooftop solar plant and hydrogen fuel cells, according to Bloomberg. The tech company also plans to sell electricity generated from solar projects, hydroelectric plants and biogas plants in Oregon, North Carolina, California, Nevada and Arizona.

If the application is approved, Apple will sell the output directly to customers. The company is spending $850 million to build a 280-MW solar power plant in California. Apple signed a 25-year power purchase agreement with First Solar to buy 130 MW of output from the project, which is expected to be completed this year. First Solar said it will sell the remaining output to Pacific Gas & Electric.