Aureos Backs Chinese Wind Energy Co.

Aureos China Fund has invested $5 million in company Qingdao Land of State Power Environment Engineering Co., a Chinese wind energy and environmental protection company.

PRESS RELEASE

Aureos China Fund (ACF) has invested US$5 million in the Chinese company Qingdao Land of State Power Environment Engineering Co., Ltd (QGLD), a wind energy and environmental protection company. ACF is an initiative of Aureos Capital, one of the leading private equity fund management companies specialising in investing in small to mid-cap businesses in emerging markets.

 

QGLD specialises in the production of wind energy turbines and in equipment needed to clean gas & water emissions from power stations.

 

  • Wind energy: QGLD produced its first large scale 1.5 MW turbines in October 2006 for use in a wind farm in Inner Mongolia (a 1.5MW turbine will typically have rotor blades with a diameter of over 60metres!).  They are the first Chinese company to develop a turbine of this capacity based entirely on their own proprietary technology.

 

  • Gas desulphurisation and water reuse in power plants: In the power plant water-recycling sector QGLD is ranked third in China in terms of sales. In the desulphurisation sector (removal of sulphur from power plant emissions) QGLD is ranked 20th out of 500 companies in the sector in terms of sales.

 

Says Steve Y. Wu, Managing Partner  of Aureos China Investment Advisers Ltd: “As China's industrial output and energy usage has continued to climb the demands to improve the sustainability of both have increased. QGLD is amongst the forefront of the domestic companies able to take advantage of this trend.”

 

“The Chinese government is putting ever more focus on environmental protection and energy use and is already providing strong policy support, such as the mandatory purchase of wind generated power and provision of price subsidies. We feel QGLD's technical expertise, proven ability as an innovator and established reputation and client base will underpin their growth.”

 

Zhao BingSheng, CEO of QGLD comments: “Aureos has a strong team of experienced professionals and we are very pleased to work with them. We are also confident that Aureos' strong and extensive international presence and network will prove beneficial to QGLD's future expansion to overseas markets.”

 

 

AUREOS CAPITAL LTD

 

Aureos Capital Ltd is a unique private equity fund management company, domiciled in Mauritius, which specialises in providing expansion and buy-out capital to unlisted small to mid-cap businesses across Asia, Africa and Latin America.

 

It was formed in July 2001 to assume management of a range of funds originally sponsored by CDC Group plc and to raise and manage a new generation of private equity funds under the Aureos brand.

 

Today, Aureos employees are the largest shareholders in Aureos. Other shareholders include CDC Group plc, Norfund and FMO which are, respectively, the British, Norwegian and Dutch development finance institutions. 

 

Since 2001, Aureos has increased its funds under management to over US$720 million and extended its geographical footprint to over 50 emerging markets covering Asia, Africa and Latin America, by establishing 14 regional private equity funds.

 

Investors in Aureos funds include institutional investors, bilateral and multilateral development finance institutions, fund of funds, family offices and foundations and high net worth individuals. 

 

Aureos is in the process of raising funds for the US$100 million Aureos Central Asia Fund, the US$300 million Aureos Latin America Fund and the US$400 million Aureos Africa Fund.