Cleantech
Boston-Power gets backing from Chinese government, GSR-led consortium
The Chinese government, in partnership with GSR Ventures and existing investors Oak Investment Partners and Stockholm-based Foundation Asset Management, has invested $125 million in lithium-ion battery maker Boston-Power.
Axis divests stake in Vishwa Infrastructures to Olympus Capital
Axis Infrastructure Fund I has exited an undisclosed “significant minority stake” in Hyderabad-based Vishwa Infrastructures and Services to Olympus Capital Holdings Asia for more than INR2 billion ($42 million).
Origo looks to exit Gobi Coal and Energy
The owners of Mongolian mining firm Gobi Coal and Energy, which include Beijing-based Origo Partners, are looking to sell the asset for as much as $750 million. Bids are due mid-October, and Goldman Sachs has reportedly been hired to facilitate the sale.
New Horizon-backed Sinovel faces legal action over alleged IP theft
Sinovel Wind Group, a Chinese turbine manufacturer part-owned by New Horizon Capital, faces legal action from American Superconductor Corp. (AMSC) after one of its employees was jailed for stealing intellectual property and selling it to the Chinese firm....
Hudson plans largest RMB clean energy fund
Renewable energy-focused buyout firm Hudson Clean Energy Partners is targeting China in a big way, announcing that it will raise the largest renminbi-denominated fund dedicated to green energy. The New Jersey-based firm did not disclose its targeted corpus,...
Hudson plans China's largest RMB cleantech fund
US buyout firm Hudson Clean Energy Partners, which has $1 billion in assets under management, is planning to raise its first renminbi-denominated fund. It is being touted as the largest cleantech investment vehicle in China despite the fund’s target...
India's TD Power gains 7% on trading debut
TD Power Systems - which counts Baring India Private Equity, IDFC, Sequoia Capital and Ironwood Investment among its anchor investors – saw its stock rise 7% on its trading debut in Bombay. This comes after the company raised INR2.27 billion ($49 million)...
PE-backed Jingyuntong tops 50x historic earnings in IPO
Private equity-backed solar energy components manufacturer Beijing Jingyuntong Technology raised RMB2.52 billion ($394 million) in its IPO, priced at 50x its historic earnings.
PE firms clean China’s water
Buoyed by strong government support for the industry, private equity players are looking for investments in Chinese water treatment and infrastructure businesses
CIC considers significant minority stake in GDF Suez
China Investment Corporation (CIC) is in negotiations to purchase a significant minority stake in French-based energy provider GDF Suez's exploration and production business for up to $4.2 billion, The Financial Times reported.
IFC makes $15m investment in green energy firm
International Finance Corp. (IFC), the World Bank’s investment unit, has committed $15 million to India biomass firm power Shalivahana Green Energy. The funds will be used for the company’s domestic expansion.
Japan's Orix targets $1b for China energy, infrastructure
Japanese financial services group Orix Corp. may allocate up to JPY80 billion ($1 billion) for private equity investments in China’s water, machinery and renewable energy spaces over the next two years, Bloomberg reported.
KKR to buy convertible bonds in Chinese water treatment firm
KKR has agreed to invest $113.8 million in convertible bonds issued by United Envirotech (UEL), a Chinese water treatment and recycling services provider. The deal could see the US private equity firm take a stake of around 38.4% in the firm.
Shanghai Electric seeks $1.47b for diversification
Shanghai Electric is reportedly looking to raise RMB9.5 billion ($1.47 billion) through a private share placement that will help the company diversify is business into other areas of the energy sector. As part of the raise, China Power Investment Group...
Audit concerns highlighted at two more Carlyle firms in China
Auditing procedures and financial controls have been called into question at China Energy Recycling and Concord Medical Services, both of which are in The Carlyle Group’s China portfolio, Reuters reported. This comes after fraud investigations at China...
Hudson Clean Energy to launch in Beijing
Hudson Clean Energy Partners, a New Jersey-based renewable power PE investor, is launching an office in Beijing and has appointed Zhongmin Shen as partner to oversee its China operations.
OPIC to support Asia's energy spaces
OPIC, a US government-backed development finance institution, has approved a $62 million capital injection into the Renewable Energy Asia Fund, which has so far raised $125 million.
JAIC to set up fund joint venture in Tianjian
Japan Asia Investment (JAIC) has set up a joint venture investment management company in Tianjin, according to one of its partners. A spokesman for the Tianjin Eco-City Management Committee said it was participating in the company alongside China Binhai...
GSR backs China’s growing LED market
GSR Ventures, a Beijing- and Silicon Valley-based venture capital firm, made its sixth investment in China’s LED industry last week, with a $10 million round of Series A financing for SunSun Lighting. The company wants to list within three years.
IFC invests $4m in Sapphire Industrial Infrustructure
The International Finance Corporation (IFC), the investment arm of the World Bank, has injected $4 million in India’s Sapphire Industrial Infrastructures, a tin film solar plant operator.
LED developer gets first financing from GSR Ventures
Chinese LED manufacturer SunSun Lighting has received $10 million in Series A financing from GSR ventures, an early stage venture capital firm. The company will use the funding to improve its technology with a view to establishing itself as a major player...
Huaneng Renewables in $800m Hong Kong IPO
Huaneng Renewables has raised HKD6.23 billion ($800 million) through its second attempt at an IPO in Hong Kong, supported by cornerstone investors including China Investment Corporation, Temasek Holdings and Standard Chartered Private Equity (SCPE).
Affinity, Unitas launch second round of Beijing Leader auction
Affinity Equity Partners and Unitas Capital have advanced ABB and Schneider Electric to the second round of the auction process for portfolio firm Beijing Leader & Harvest Technologies. The PE firms are aiming to raise as much as $700 million, Reuters...
AMP in line for UK infrastructure asset
A consortium comprising Australia’s AMP Capital Investors, London-based investment firm Equitix and infrastructure-services firm Balfour Beatty have been named the preferred bidder for Greater Gabbard Offshore Transmission Owners (OFTO) by UK electricity...