Clean energy fund launched in Chongqing
April 28, 2011 Category Alternative energy, Environment
Private equity firm Nature Elements Capital – founded by Chan Ka-keung, a former renewable energy head of Hong Kong utility CLP Holdings – signed a deal in Chongqing to set up a CNY250 million fund to invest in clean energy and technology. Beijing-based Nature Elements has garnered support from the Chongqing government and the central government, which together will contribute the bulk of the fund, Chan told the South China Morning Post. “The fund’s size is not huge, so it was quicker to set up,” he said. “We just want to set the fund up so that we can start investing.” In October 2009, he said Nature Elements was in talks to set up a CNY500 million fund. The fund will invest in wind, solar, hydro and biomass energy generating technology and equipment providers, along with energy storage and conservation technology developers. Besides the yuan fund, Nature Elements aims to raise USD350 million by the middle of next year from a separate U.S. dollar clean energy fund to be invested mainly in China, Chan said.
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