Interesting article in InfraNews today re. China Three Gorges....

Interesting article in InfraNews today re. China Three Gorges. Not necessarily any mention of FLC, although I can see a role for them within this fund and certainly gives a sense of scale and breadth of this partner.

From InfraNews 18 May 2020

China Three Gorges' (CTG) private equity unit has launched a new investment fund focusing on renewable and environment projects. The state-owned power generator has formed the CNY 5bn (USD 700m) fund in partnership with the Shandong provincial government of northern China, Tsinghua University-backed Tsinghua Holdings, as well as US-China Green Investment Management, according to a statement.

The investment vehicle will target assets across China with a focus on renewables, environment and other high-tech embedded sectors in Shandong province.

CTG Capital will be the founding LP and cornerstone investor in the CTG Green Industry (Shandong) Equity Investment Fund. The other founding LPs are West Coast New Area Ocean Holding, and three funds launched by the governments of the West Coast Area district, the Qingdao municipality as well as Shandong province.

CTG Green Fund Management will be the GP and manager of the fund, which has an investment period of five years and exit period of three years.

The fund, which will be registered in the Qingdao West Coast New Area of Shandong, will leverage the PE fund management expertise of the US-China Green Investment Management team.

US-China Green Investment Management specialises in green energy, energy efficiency, environment and smart city and village projects, including smart parking lots, distributed energy, renewable power district heating as well as water and solid waste management plants.It was set up in June 2016 to manage the US-China Green Fund with professionals from both Chinese and US financial institutions, including former Warburg Pincus partner and managing director Bo Bai.

Tsinghua Holdings, whose business spans environment and healthcare, will offer technology and R&D support. CTG launched the fund as part of an agreement with the Shandong government to develop infrastructure and energy projects, especially gas-powered district heating, pumped hydro, offshore wind and other renewables.