Total Energy Ventures, Cathay Capital and Hubei High Technology Investment Guiding Fund Management Company are launching an up to $250m fund targeting the Chinese energy sector.
The main focus of the Cathay Smart Energy Fund will be on renewables, storage, smart and distributed technologies and low-carbon activities, the partners said.
Total said the fund will allow the company to “explore new opportunities in China and identify new business models and technologies”.
Total Energy Ventures and Hubei will invest $50m each initially, with more partners expected to join the fund following first closing.
Total chief executive Patrick Pouyanne said: “Through this investment, we are delighted to become a part of the innovation ecosystem of the Chinese energy sector, benefiting from the knowledge of the Chinese market that Cathay Capital brings to us.”
Image: Pixabay
Total targets green China
By EBS