Today, Hidden Hill Capital (“Hidden Hill”), a private equity platform of GLP China, announced the launch and first close of an RMB fund with YKC Clean Energy Technologies (“YKC Charging”), China’s leading renewable energy SaaS provider, to invest in smart electric vehicle (“EV”) charging infrastructure in China.
The fund held a first close of 200 million RMB and is targeting a total of 1 billion RMB. The capital will be used to build China’s largest EV charging network and will utilize GLP’s extensive portfolio of over 40 million square metres of operational GLP parks across China to install the charging stations. The fund is expected to support a total charging capacity of 10 billion kilowatt‐hours (kWh) which translates to 35 billion kilometres of EV travel or 875,000 trips around the world and reduce petrol consumption by 4.2 billion litres, eliminating 9.66 million tonnes carbon dioxide emissions.
