Brian Caffyn, CEO and chairman of UPC, said: “UPC has been working in China since 2006, and we have seen this market go from a standing start to one of the largest in the world for wind energy. We expect to see sustained long term growth in the wind market in China, and UPC, with support from GEF, is looking forward to participating fully in this market.”

Jeffrey Leonard, CEO of GEF, said: “We are pleased to be partnering with UPC in its ambitious plans for China. This is a tremendous opportunity to support a world-class wind developer in one of the world’s best clean energy markets. GEF has known the international sponsors of UPC for many years and we believe that their global experiences, combined with a strong local team of highly skilled Chinese professionals, positions the company well for this market.”

UPC was founded by UPC Group, which focuses on wind and solar energy production. It has developed, financed and installed over 1,000 utility-scale wind turbine generators in Italy and the US, and has active wind development in a number of other countries.