Sichuan Guangan AAA Public (SHA:600979), through unit Sichuan Aizhong Integrated Energy Technology Services, will invest 70 million yuan into a power industry venture fund, according to a Shanghai bourse filing on Saturday.
The fund, Guangdong Yuecai Aizhong New Energy Industry Investment Fund Partnership (Limited Partnership), will have a total capital of 70.7 million yuan and will invest in wind and solar power, industrial and commercial energy storage, and virtual power plants.
The Chinese utility services provider will co-establish the fund with Yuecai Private Equity Investment (Guangdong), which is the fund's general manager. Yuecai Private Equity will invest 700,000 yuan into Yuecai Aizhong's capital.
Guangan AAA Public and Yuecai Private Equity will own 99.01% and 0.99% of the fund, respectively.
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