China's GLP raises $550m for wind, solar & storage investment

China-headquartered GLP Capital Partners has raised approximately RMB 4 billion ($550 million) for investment in wind, solar and energy storage infrastructure. 

The capital commitments came from Chinese 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 ($2.7 billion), a GLP statement said.

“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. Given GLP’s strong in-house expertise across planning, development and operations, we believe we can further accelerate market leadership in this space, to support partners and clients in pursuing their carbon neutrality goals.”