Cook: Apple planning $850M solar farm, Apple Pay outperforming

Feb. 10, 2015 4:11 PM ETApple Inc. (AAPL)By: Eric Jhonsa, SA News Editor130 Comments

Tim Cook (NASDAQ:AAPL) states during a Goldman conference talk Apple is partnering with First Solar (FSLR) on an $850M California solar farm. Apple is a week removed from announcing plans to invest $2B to build a Mesa, AZ global "command center" for its data center infrastructure that will run on renewable energy. (live blog, webcast)
Cook also states the Apple Pay rollout is "going faster than I thought it would, much faster." Apple has provided few details thus far about total Apple Pay transaction volumes.
He asserts once more Apple Watch (set to ship in April) will be a game-changing product, as debate continues to swirl about the size of its market opportunity. "The customizable nature of the Apple Watch is incredible."
Apple closed up 1.9%, making new highs and becoming the first U.S. company to post a $700B+ market cap along the way. First Solar closed up 4.8%, spiking in the final minutes of trading thanks to Cook's disclosure.
Update: First Solar has issued a PR about the solar project. It's located in Monterey County, and is expected to be finished by the end of 2016 after starting construction in mid-2015. Apple will receive 130MW of electricity through a 25-year power purchase agreement, and PG&E the other 150MW.