GLP Capital Partners has closed its first commingled clean-energy strategy in China with RMB 4 billion ($554 million) in capital commitments from domestic institutions.
The fund’s investor base included National Green Development Fund and feeder funds affiliated with CHN Energy Investment Group, one of China's largest electricity providers and a prominent state-owned enterprise in the energy sector.
The fund provides significant dry powder to accelerate China renewable-energy investment across solar, wind and energy storage infrastructure and related energy-management solutions. The fund will target both greenfield projects and acquisitions in these sectors, and the overall investment of the vehicle is expected to reach RMB 20 billion ($3 billion).
“This is a significant fundraise for GCP, and we are pleased to raise third-party capital from partners who share the same vision for strengthening renewable-energy investment,” said Teresa Zhuge, executive vice