Apple announces $850 million solar energy farm to run its California facilities

Apple will spend $850 million on a massive solar energy project that will generate enough power for the computer giant's new office campus, retail stores and its other California operations.

The tech company will be the biggest single consumer of energy from the new solar farm, which is being constructed on 1,300 acres in rural Monterey County, south of the San Francisco Bay Area where Apple is headquartered.

Apple CEO Tim Cook, announcing the project at a conference Tuesday in San Francisco, said Apple is concerned about the threat of climate change. He noted that the company's computer centers already are powered by various forms of renewable energy.

Arizona-based First Solar Inc. is building the facility and will sell additional energy from the farm to utility Pacific Gas & Electric.