China Ming Yang Wind Power, the Chinese wind energy solution provider, has entered a framework agreement to invest in a fund management company.
The company will be making the investment along with companies including CGN Wind Energy , a new energy arm of China General Nuclear Power Group, and Shenzhen Energy Group.
According to a statement, Ming Yang will be making a limited partner capital commitment of up to RMB1 billion to the fund management company named Guangdong Oriental Millennium Renewable Energy Industry Fund Management.
After capital injections by Ming Yang, CGN Wind, Shenzhen Energy and the management team of Oriental Millennium as currently contemplated, Ming Yang expects to invest RMB28 million in the fund, representing about 28 percent of its equity interest after the capital injection.
The primary objective of the Fund is to seek investment opportunities in projects or companies relating to renewable energies, such as wind, solar, hydropower and biomass, located in Guangdong Province.
Ajith Kumar S