GLP Capital Partners closes inaugural commingled clean energy strategy with RMB 4 billion in commitments
SHANGHAI and SINGAPORE , Aug. 7, 2023 /PRNewswire/ -- GLP Capital Partners ("GCP") has established its first commingled clean energy strategy in China, raising approximately RMB 4 billion in total capital commitments from domestic institutions including 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 overall investment of the fund is expected to reach approximately RMB 20 billion.
- The overall investment of the fund is expected to reach approximately RMB 20 billion.
- The capital raised provides dry powder for renewable energy investments across wind, solar, energy storage infrastructure and related energy management solutions and the fund will target both greenfield projects and acquisitions in these sectors.
- "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 Chairman and President, China at GLP Capital Partners.
- "Renewable energy is one of GLP's key pillars, focusing on facilitating the energy transition across new economy sectors for a sustainable future.