Masdar to invest in Chinese fuel cells and water treatment
Masdar Capital, the private equity arm of renewable energy firm Masdar, is said to be looking for opportunities to invest in the fuel cells and water treatment spaces in China.
The Abu Dhabi-based investor is in negotiations with a Chinese fuel-cell maker and a water-treatment business, General Manager Alex O'Cinneide told The China Daily.
Masdar Capital has up to $520 million to invest via its Masdar Clean Tech Fund and DB Masdar Clean Tech Fund. The latter vehicle, set up in conjunction with Deutsche Bank, raised $265 million for its first close in January 2010 from globally renowned LPs including Credit Swiss, Siemens, Japan Oil Development, Nippon Oil Corp., the Development Bank of Japan and General Electric.
In late 2010, DB Masdar made its first investment, channeling $15 million into Chinese wind-farm developer UPC Renewables China. Last month, it provided further capital to the company alongside the likes of Global Environment Fund, CIAM Group and Macquarie Bank. The total size of the round was $60 million.
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