On June 22, Sunwoda Electronic Co., Ltd. (Sunwoda) issued an announcement stating that its wholly-owned subsidiary, Shenzhen Xinneng Industrial Development Technology Co., Ltd., plans to partner with Kaixian Capital, Zhejiang Xunneng Technology Co., Ltd., and Huizhou Yuede Energy Co., Ltd. to jointly establish Tianjin Kaixin Energy Storage Equity Investment Partnership (Limited Partnership). The total scale of the fund is 500 million RMB.
According to the announcement, Kaixian Capital will serve as the fund manager. Among the partners, Zhejiang Xunneng Technology has committed a capital contribution of 250 million RMB, accounting for 50%; Xinneng Industrial Development Technology has committed 240 million RMB, accounting for 48%; while Huizhou Yuede Energy and Kaixian Capital have each committed 5 million RMB, each holding a 1% stake.
The core investment strategy of the fund is to primarily invest in standalone energy storage projects, while opportunistically deploying capital into wind power, photovoltaic (PV), and other projects depending on the circumstances.
Pursuant to the agreement, no less than 70% of the fund's total paid-in capital must be directly or indirectly invested in standalone energy storage projects. Provided that the primary investment direction is not compromised, the remaining investable funds can be allocated to clean energy power generation projects such as wind power and PV. Additionally, the funds can target other energy infrastructure, smart microgrids, and integrated "source-network-load-storage" projects that demonstrate synergistic effects with standalone energy storage, wind power, and PV projects. The geographic scope of the investments is strictly restricted to mainland China.
Sunwoda stated that the establishment of this industrial investment fund aims to leverage the resource advantages of professional investment institutions to conduct industrial investment operations under controlled risk. The initiative will allow the company to explore an "asset + operation + industry" collaborative model, further expand its footprint in the energy storage business, and enhance its overall competitiveness.
Source：EnergyTrend