SPIC and China Life signed strategic partnership agreement to set up a CNY 10 Billion Clean Energy Investment Fund

SPIC and China Life signed strategic partnership agreement to set up a CNY 10 Billion Clean Energy Investment Fund

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On June 22, SPIC and China Life signed a strategic partnership agreement in Beijing to set up a CNY 10 billion Clean Energy Investment Fund.

The fund will have a mandate to finance the project equity in a large-scale wind power clean energy base in the western region. When the project is put in operation, the clean energy will be transmitted to the cluster region of Beijing-Tianjin-Hebei to support the power demand of Beijing Winter Olympics in 2022. In the future, the two partners will also conduct in-depth strategic cooperation in the fields of traditional energy, integrated energy, clean energy base, hydrogen energy, energy storage and other industries, as well as financial services and industrial funds.

SPIC and China Life have had a sound collaboration in the fields of nuclear power, hydro power, etc.. They are each other’s largest equity partners. In recent years, China Life Asset Management Company has increased its investment in clean energy, and has entrusted CNY 8 billion in the Yellow River Hydropower Fund in 2017, CNY 8 billion in SPIC Nuclear Power in 2018, and CNY 9 billion in the Qinghai Yellow River Hydropower Fund in 2019. (SPIC)