State-owned China Energy Investment Corp (CEIC) and China Reform Holdings Corp. established a new energy fund investing in clean and renewable energy projects.
The fund is worth CNY10.02 billion (USD1.55 billion) and upon launch, it is targeted to generate roughly CNY50 billion (USD7.7 billion) from its financing in projects utilizing wind, solar and hydrogen, and energy storage.
Partners of the new fund include CEIC’s subsidiaries Shenhua Energy Co. Ltd., Guohua Energy Investment Co. Ltd., China Reform Assets Management Co. Ltd., and Orient Asset Management.
