China Three Gorges and Beijing Enterprises Water have teamed up to launch a new fund focusing on water projects in regions along the country’s longest river.
The Yangtze River Green Development Fund has a target size of CNY 100bn (USD 14.2bn), with the first phase capped at CNY 20bn, according to a 29 November statement. The vehicle will look into investments in water pollution control, water ecosystem restoration, as well as other environment and clean energy projects along the Yangtze River Economic Belt.
It will be open to new private sector LPs – both domestic or foreign – and operate based on market principals.
The fund is registered in Yibin city of central Hubei province. CTG Capital and Beijing Enterprise Financial Services co-launched the fund’s general partner and manager Yangtze River Green Development Fund Management.
China Communication and Construction Company will participate as an LP. The general partner is 70%-owned by China Three Gorges – the country’s biggest hydro firm by capacity – while Beijing Enterprises Water holds the rest.