China’s TBEA plans to invest $174m in green energy fund

Photo by Andres Siimon on Unsplash

TBEA has co-launched a fund to invest 1.1 billion yuan ($173.5 million) in green and clean energy companies, as the Chinese energy equipment maker seeks to create industry synergies to promote its new energy business amid Beijing’s pledge to go carbon neutral before 2060.

TBEA, which offers energy equipment in China and overseas countries like the US, Russia, and Brazil, agreed to invest 770 million yuan ($121.5 million) through a wholly-owned subsidiary to serve as a limited partner (LP) of the new fund. Its commitment accounts for 70% of the total fundraising size, said TBEA in a recent filing with the Shanghai stock exchange.

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