London-based financial advisory and investment firm Sustainable Development Capital LLP (SDCL) Asia says the company plans to launch a U.K. China Energy Efficiency Investments Fund to invest up to US$200 million in energy efficiency projects in the U.K. and China, according to a company announcement.
The new fund will be managed by SDCL Asia, a joint venture between SDCL and the First Eastern Investment Group, a Hong Kong-based investment firm.
SDCL currently manages the U.K. Energy Efficiency Investments Fund, with a cornerstone investment from the U.K. Green Investment Bank. It has also launched government-backed energy efficiency investment programs in Singapore and the Republic of Ireland.
"First Eastern established the U.K. China Fund partnership concept during the (U.K.) Prime Minister’s first visit to China in November 2010," says chairman of the First Eastern Investment Group, Victor Chu.