DeHeng Assisted SPIC in Establishing Its First ESG Fund

2023-06-01

On April 28, 2023, the RMB 5 billion SPIC-Cinda New Energy Industry Fund jointly established by SPIC Innovation Investment Co., Ltd. and China Cinda Asset Management Co., Ltd. was registered and filed with the Asset Management Association of China. The Fund will invest in clean energy assets such as wind power and photovoltaic power, and industrial chain related projects. SPIC Clean Energy Fund Management, a subsidiary of SPIC Innovation Investment, acts as the fund manager and executive partner. The Fund is expected to add 5 million kilowatts of clean energy management capacity to State Power Investment Corporation Limited (SPIC). 

Engaged by SPIC Clean Energy Fund Management as the legal counsel of the project, the DeHeng team, composed of partner Huang Huazhen of its Beijing Office, and lawyers Wang Guibin and Huang Xuanyuan, provided professional legal services for the client, assisted the client in designing the transaction structure, participated in the business negotiations between SPIC Clean Energy Fund Management and China Cinda, drafted and revised a full set of transaction documents, wrote legal opinions, demonstrated difficult legal issues, and prepared transaction documents that met the demands of both parties. With their assistance, the fund was successfully established.