GLP Capital Partners announced on Aug 8 that it had raised 4 billion yuan ($556.17 million) in renewable energy investments in China from China's green development fund and funds affiliated with a state-owned energy investment firm.
The fund's total investment is expected to be around 20 billion yuan, according to GLP Capital.
"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," according to the asset manager.
GLP Capital, which managed $125 billion in assets across 54 funds as of March 31, has received 4 billion yuan in commitments from the National Green Development Fund of China and funds affiliated with CHN Energy Investment Group.
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