It’s been proven time and time again that Apple is one of the greenest companies in the United States, but there’s always room for improvement. That’s why Apple is partnering with First Solar on a new solar farm.

Tim Cook announced at the Goldman Sachs Technology and Internet Conference in San Francisco on Tuesday that Apple plans to invest $850 million into the construction of a 1,300-acre solar farm in Monterey County, California.

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According to Cook, the solar farm (which will be Apple’s fourth) will produce enough energy to power upwards of 60,000 California residences. Cook is calling this investment Apple’s “biggest and boldest project ever,” which is even more impressive after seeing the progress on the monstrosity that is Campus 2.

Speaking to the audience, Cook made it clear that he understood “this is a financial conference, and some of you are interested if this is a good use of funds or not.” To that end, Cook believes that the solar farm will result in “significant savings because we have a fixed price for renewable energy,” as opposed to the fluctuating price of “brown energy.”

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