GLP Capital Partners (GCP) has raised RMB4bn (€505m) from Chinese institutional investors, including China’s new National Green Development Fund, for its inaugural clean energy strategy.

IPE Real Assets understands that GCP also plans to grow and scale its infrastructure segment with global investment themes and intends to launch new data centre and renewables strategies across Asia and Europe later this year.

The RMB88.5bn National Green Development Fund, launched last year, and feeder funds affiliated with CHN Energy Investment, one of China’s largest electricity providers and an unnamed state-owned enterprise in the energy sector, were among the cornerstone investors in the new clean energy fund.

The closed-end fund is expected to develop a portfolio of renewable energy investments across wind, solar, and energy storage infrastructure valued at some RMB20bn over its five-year term. The fund will target both greenfield projects and acquisitions in these sectors, both from the group’s pipeline and the wider market.

“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, focussing on facilitating the energy transition across new economy sectors for a sustainable future.”

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