Primavera Capital ploughs USD 600m in Chinese green tech firm Envision
Envision wind farm in China
China-based investment firm Primavera Capital on Thursday said it has invested USD 600 million (EUR 516m) in two subsidiaries of Chinese green technology firm Envision Group.
The strategic investment is in Envision Energy, which designs, sells and operates smart wind turbines and energy storage products, and in Envision AESC, which offers Artificial Intelligence of Things (AIoT)-powered batteries. Envision Group also includes Envision Digital, a provider of AIoT operating systems.
Primavera said the deal adds to its investments in the area of carbon neutrality.
“By leveraging our respective strengths in both domestic and international markets, including the strong eco-system of Primavera’s portfolio companies, we intend to support Envision’s global expansion and growth, empower many more industries to achieve zero-carbon transition, and promote mass adoption of renewable energy and clean tech in China and globally,” said Fred Hu, founder and chairman of Primavera Capital Group.
The investment firm expects the world’s major economies to actively pursue decarbonisation in the decades ahead, with China, the US and the EU all having committed to carbon neutrality in the past year.