Private Chinese Investor Reveals a 50GW Clean Energy Investment Plan

published: 2014-10-02 17:46 | editor: | category: News

Cheng Kin Ming, the funder of Asia Pacific Resources Development Investment (APRD) and the majority investor in Shunfeng Photovoltaics, estimates that his company has invested approximately US$ 20 billion in solar sector. He announces new targets of taking stakes in energy storage and marine energy companies.

Cheng Kin Ming

The US$20 billion investment has made Cheng the world’s largest private investor in clean technologies. Recently, he spoke publicly about his strategy to accelerate the world’s transition to green cities. The approach is to identify the world’s best clean technology companies to create entire supply chains, across multiple verticals, to produce integrated and comprehensive solutions on a huge scale. Cheng specified that he plans to deploy 50GW of clean energy over next 10 years to power 37,000,000 homes.

The so-called “Age of Green Cities” vision was firstly unveiled at The Next Generation Solar PV Finance event in the New York, which was organized by PV Tech’s publisher Solar Media. He spoke at the event that: “Clean energy brings a much brighter future for mankind and mother earth. Investors and entrepreneurs should be focused on this sector. By investing in companies that together bring total solutions, we enable cities to transform the ways they grow and consume resources and we can ensure a high quality of life for us and for future generations.”

Cheng has been realizing his strategy after he acquired 30% stake in Shungfeng. With his backing, the company evolved from a solar developer and operator into an integrated clean energy company. He evaluated three aspects to invest in: clean power generation like solar panels and inverters; energy storage and management systems, such as battery or heat pumps; and green consumer solutions include electric vehicles (EVs) and LED products.

Through Shunfeng, Cheng also invested several clean energy companies, including: Suntech, a PV panel manufacturer; Sunways, a German solar inverter manufacturer, and S.A.G Solarstrom which provide high-quality PV systems. In addition, TCNT, a technology that is able to accelerate energy generation from seawater, is one of the targets of his investment. APRD’s stakes in energy storage companies such as Powin Energy, Boston Power and Nobao Renewable Energy will collectively support Cheng’s green cities strategy.

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