Breaking News

Tweet TWEET

SDCL and AVIC to Invest in U.K.-China Energy Efficiency

Sustainable Development Capital LLP and a unit of Aviation Industry Corp. of China agreed to work together on energy-efficiency projects.

AVIC U.K. and London-based SDCL will source technologies from Britain and elsewhere to use in projects in China, the companies said today in a statement. The investments will be part of a planned $200 million U.K. China Energy (1088) Efficiency Fund that will be managed by SDCL Asia, a venture with First Eastern Investment Group.

State-owned Aviation Industry Corp. is diversifying into renewables projects as China vows to shut coal-fired power plants and increase clean-energy production after Premier Li Keqiang declared “war” on smog last month.

“China’s industrial base and also its retail, commercial and health-care assets offer an enormous opportunity for energy savings,” SDCL Chief Executive Officer Jonathan Maxwell said at a signing ceremony in London.

To contact the reporter on this story: Louise Downing in London at ldowning4@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Alex Devine, Ana Monteiro

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.