On July 23, Sungrow Power Supply Co., Ltd. announced that its controlling subsidiary, Sungrow New Energy Development Co., Ltd. , has partnered with Huatai Baoli Investment Management Co., Ltd. and Huatai Asset Management Co., Ltd. to establish Huatai Baoli - Suzhou Huaxu New Energy Equity Investment Partnership (Limited Partnership) (tentative name). The total committed capital of the fund is RMB 1 billion.
According to the announcement, Sungrow New Energy, as a Limited Partner (LP), will contribute RMB 199 million of its self-owned funds, representing 19.90% of the total fund size. Huatai Asset Management will contribute RMB 800 million, accounting for 80%, while Huatai Baoli, acting as the General Partner (GP), will commit RMB 1 million, accounting for 0.10%. The fund has a tenure of 30 years, with Huatai Baoli serving as the managing partner and fund manager.
Regarding its investment focus, the fund will primarily target eligible renewable energy projects, with a preference for wind power, centralized photovoltaic (PV), and energy storage initiatives. In principle, individual projects must feature an installed capacity of no less than 200 MW (200,000 kW). Priority will be given to projects that are already grid-connected, possess favorable power consumption conditions, or are equipped with ultra-high voltage (UHV) power transmission capabilities. Furthermore, the fund requires a project equity internal rate of return (IRR) of at least 8% and compliance with all relevant regulatory standards governing insurance capital investments.
Sungrow stated that the fund will mainly invest in renewable energy power plant projects recommended by Sungrow New Energy. In the future, Sungrow New Energy and other subsidiaries of the company may also provide services such as operation and maintenance (O&M) and power trading for these invested projects. This move is expected to support the steady, long-term development of Sungrow's renewable energy investment and development business, generating sustainable returns over time.
Source：EnergyTrend