CCP intends to provide its limited partners with above market returns from investments in privately-held Chinese cleantech firms, engaged in alternative energy, environmental remediation, water, and energy storage and distribution.
CCP will spend either directly in target companies, or indirectly as a limited partner through the CNY500m ($78.28m) Origo Xinxiang Renewable Energy Fund, established by Origo and the Municipal Government of Xinxiang.
The Xinxiang Fund has secured a CNY125m ($19.57m) commitment from the Xinxiang Government’s investment vehicle, the Xinxiang Investment Group, and CCP expects to invest the balance of CNY375m ($58.71m).
Origo and Ecofin Water & Power Opportunities have each made an initial commitment of $15m to CCP.
CCP is expected to reach an initial closing later this year when it has achieved $75m in collaboration commitments and will be managed by a newly registered entity, which will be jointly owned on a 50-50 basis by Origo and EFMI, an affiliate of Ecofin.
CCP will reach final closing in next year when it achieves $200m in partnership commitments.
Ecofin Water & Power Opportunities is a UK investment trust managed by Ecofin.
