SDCL Asia to launch USD 200 million UK China Energy Efficiency Investments Fund
SDCL Asia is delighted to announce its plan to launch the UK China Energy Efficiency Investments Fund, which will seek to invest up to USD 200 million in energy efficiency projects and opportunities.
Energy efficiency is one of the fastest growing investment markets in the world, driven by severe energy supply constraints, rising prices and the opportunity to make substantial cost savings from inefficient and ageing energy infrastructure. The UK is home to some to the world’s leading energy efficiency technology and services companies as well as financial innovation. China is the world’s largest market for energy efficiency and is a major exporter of energy efficiency products and solutions.
The new 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, said: "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”.
About Sustainable Development Capital LLP (SDCL)
SDCL is a specialist financial and investment advisory firm, headquartered in London and with offices in New York and Hong Kong. It was established in 2007 to help governments, financial institutions and companies finance and invest in environmental and social infrastructure assets and services. SDCL’s advisory business is focused on facilitating the supply of clean infrastructure. Its investment business is focused on reducing demand for resources through energy efficiency.
SDCL’s funds in the UK and Ireland are managed by SDCL EE Co (UK) LLP, the dedicated energy efficiency investment arm of Sustainable Development Capital. SDCL also manages energy efficiency funds in Asia, including the Singapore Energy Efficiency Investments Group through SDCL Asia, its joint venture with the First Eastern Investment Group. SDCL is authorised and regulated in the UK by the Financial Conduct Authority.
About the First Eastern Investment Group (First Eastern)
First Eastern is a leading Hong Kong-based investment group pioneering in the field of direct investments in China. Founded by Victor Chu in 1988, First Eastern has offices in Hong Kong, Beijing, Shanghai, Dubai and London. First Eastern and its associates have invested into over 100 projects in China covering infrastructure, light industries, real estate development and financial services, generating over US$7 billion of total investments. First Eastern is an investment institution regulated by the Hong Kong Securities and Futures Commission.
Over the last 20 years, Victor Chu has served at various times as Director and Council Member of the Hong Kong Stock Exchange, Member of the Hong Kong Takeovers and Mergers Panel, Advisory Committee Member of the Securities and Futures Commission and part time member of Hong Kong’s Central Policy Unit.
Mr Chu is currently a Foundation Board Member of the World Economic Forum in Geneva and co-chairs the Forum’s International Business Council. He is also a member of the Mayor of London’s International Business Advisory Council.
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