According to EnergyTrend, on April 3, Chint Electric released an announcement stating that its controlling subsidiary, Zhejiang Taizhou New Energy Co., Ltd., plans to invest RMB 90 million in self-raised funds to participate in the establishment of a residential PV investment fund.
As disclosed in the announcement, the fund has a tentative name: Hangzhou Yijin Equity Investment Partnership (Limited Partnership). With a total fundraising scale of RMB 500 million, Taizhou New Energy will contribute 18% of the capital and act as a limited partner without participating in the fund’s daily management.
The fund manager is Shanghai Hengxu Chuangling Private Equity Fund Management Co., Ltd. The investment term is 5 years, including a 3-year investment period and a 2-year exit period, which may be extended based on actual conditions. The fund will mainly invest in project entities of residential distributed photovoltaic power stations directly or indirectly wholly owned by Chint Anneng.
Partners in this fund include multiple institutions such as Hangzhou High-Tech Venture Capital Co., Ltd. and Wenzhou State-owned Financial Capital Management Co., Ltd. Chint Electric stated that this investment aligns with the company’s strategic layout in the new energy sector, aiming to improve asset turnover efficiency, expand the scale of the residential photovoltaic industry, and deepen customer cooperation. The transaction does not constitute a connected transaction or a material asset restructuring.
As of the disclosure date, the relevant partnership agreement for the fund has not yet been signed, and the partnership has not completed industrial and commercial registration. It will also need to complete filing with the Asset Management Association of China. There are risks that investment returns may fall short of expectations.
Source：EnergyTrend