On December 30, Sunwoda announced the latest progress regarding the joint investment made by its wholly owned subsidiary together with professional investment institutions. According to the announcement, the Shenzhen Yuanzhi Gangxin Smart Energy Industry Private Equity Investment Fund Partnership (Limited Partnership), in which Sunwoda participates, has completed its filing procedures with the Asset Management Association of China (AMAC).
As disclosed in the announcement, the Yuanzhi Gangxin Fund has a total committed capital of RMB 300 million. Shenzhen Qianhai Hongsheng Venture Capital Investment Service Co., Ltd., a wholly owned subsidiary of Sunwoda, participates as a limited partner with a committed contribution of RMB 60 million, representing 20% of the fund’s total capital.
The other partners of the fund include:
Shenzhen New Energy Storage Industry Equity Investment Fund Partnership (Limited Partnership), with a committed contribution of RMB 147 million, accounting for 49%;
Towngas Energy Investment Limited, with a committed contribution of RMB 90 million, accounting for 30%;
Shenzhen Yuanzhi Energy Storage Private Equity Fund Management Co., Ltd., acting as the general partner and fund manager, with a committed contribution of RMB 3 million, accounting for 1%.
In terms of investment focus, the Yuanzhi Gangxin Fund will primarily invest in enterprises operating commercial and industrial (C&I) energy storage power station projects within China.
As of the date of the announcement, Sunwoda has already paid RMB 4 million as the first installment of its capital contribution to the partnership. The company stated that it will strictly comply with relevant regulations and timely disclose subsequent progress as required.
Source：EnergyTrend