China Life Insurance, power firm SPIC launch $1.1b clean energy fund

China Life Insurance, power firm SPIC launch $1.1b clean energy fund

China Life Insurance has teamed up with State Power Investment Corporation Limited (SPIC) to launch an 8 billion yuan ($1.1 billion) clean energy fund, the latter announced in a WeChat post.

China Life is understood to have committed up to 7.2 billion yuan ($1 billion) to the fund, which will be managed by its asset management arm. The fund will primarily invest in state-backed clean energy projects in underdeveloped regions. It will also make investments in areas such as smart energy, hydrogen energy and energy storage.

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