SDCL Asia to launch UK China Energy Efficiency Investments Fund
Sustainable Development Capital LLP (SDCL) Asia has announced its plan to launch the UK China Energy Efficiency Investments Fund, which will seek to invest up to $200m in energy efficiency projects and opportunities.
The fund will build on SDCL’s experience in the UK, where it manages the UK Energy Efficiency Investments Fund, with a cornerstone investment from the UK Green Investment Bank. SDCL has also launched government-backed energy efficiency investment programmes in Singapore and the Republic of Ireland. The new fund will be managed by SDCL Asia, the joint venture between SDCL and the First Eastern Investment Group.
UK Prime Minister, David Cameron, commented on the initiative: “I am delighted that SDCL are joining me in the largest British business delegation to go to China this century. This Government’s priority is to secure the economic recovery and we are determined to do all we can to help British companies to succeed in the global race. I am firmly committed to playing my part, which is why I have taken more than 130 business delegates to China, including SDCL. My aim is to open the door for them in this fast-growing market, creating opportunities for them to expand their business.”
Chairman of the First Eastern Investment Group, Victor Chu, said: “First Eastern established the UK China Fund partnership concept during the Prime Minister’s first visit to China in November 2010 to bring the best of British business to China. SDCL was our key investment in the green economy. Now is the perfect time for us to connect its achievements in the UK with the huge opportunities in China”.
CEO of SDCL and chairman of SDCL Asia, Jonathan Maxwell, said: “The UK China Energy Efficiency Investments Fund is a major new initiative for SDCL Asia that will promote efficiency in the UK and Chinese energy economies. Energy efficiency is good for business, reduces costs, improves productivity and growth, while at the same time offering the largest and cheapest source of greenhouse gas emission reductions. Energy efficiency represents the ultimate sustainable investment: it pays for itself in the UK & Ireland, China, Singapore and many other major global markets”.