Recently, CR-BECE New Energy Fund (hereinafter referred to as "BECE Fund") of CR Capital Management (hereinafter referred to as "CR Capital") successfully withdrew. Its photovoltaic assets were officially delivered in December 2020, and the IRR of project investment exceeded 20%. As the fund manager and the leading sponsor, CR Capital has efficiently provided the whole-process services of "raising, investment, management and withdrawal "for the first fund. BECE Fund has made full use of the internal collaborative resources of CR Group, and given full play to the Group's diversified industrial advantages. From the initiation and establishment, project investment, operation and management to project withdrawal, it has combined the industry and finance as well as coordination of financing. The smooth withdrawal of the fund benefits from the high trust of investors, the outstanding operation ability of the fund team, the professional management level of the middle and back ground, and the close and full cooperation of all parties, which ultimately creates good value returns for the investors.
"BECE Fund signifies cooperation between CR Capital and Beijing Enterprises Clean Energy Group Limited in the field of new energy under the guidance of the CR Group's strategic 13th Five-Year Plan for the first time. Both sides have cooperated and seized the development opportunities of the new energy industry, and created excellent fund performance and won the unanimous praise of investors through the perfect integration of capital and industry. On the occasion of the successful withdrawal of the fund, we would like to express our sincere thanks to Beijing Enterprises Clean Energy Group Limited for its sincere cooperation and to all relevant parties for the trust." Carl Qin, general manager of CR Capital, said, "in the future, CR Capital will continue to focus on investment opportunities in the field of new energy with the successful experience of BECE Fund as the foundation and its operating fund as the carrier, so as to contribute to the national clean energy strategy and create higher value returns for investors."
About CR Capital Management
CR Capital Management is the first-level profit center, a wholly-owned subsidiary of China Resources (Holdings) Co., Ltd., the bridge for the coordination of industry and finance of CR Group, as well as the promoter for innovation, transformation and development. As the management platform of the Group's industry fund, CR Capital carries out fund operation business closely around the Group's industries and national macro policies, gives full play to such advantages as the flexible industry fund mechanism, fault tolerance, innovation promotion and effective incentives, mainly invests many fields including health care, urban construction and operation, consumer products, comprehensive energy construction and operation, technology innovation, and energy conservation and environmental protection, etc.
About Beijing Enterprises Clean Energy Group Limited
Beijing Enterprises Clean Energy Group Limited is a photovoltaic power generation investment platform listed in Hong Kong (HK.01250) built by Beijing Enterprises Water Group Limited and CITIC Private Equity Funds Management Co., Ltd., together with an excellent domestic photovoltaic technology team. The company focuses on the specialized clean energy fields of solar projects and the development and construction of distributed power stations, and is committed to the strategic development of green new energy for mankind, thus meeting the ever-changing energy needs.
About CR-BECE New Energy Fund
CR-BECE New Energy Fund is an equity investment fund established by CR Capital jointly with Beijing Enterprises Clean Energy Group Limited, for the purpose of implementing the national strategic requirements of"13th Five-Year Plan", and assisting in the new energy infrastructure construction in China, with vigorously developing China's clean energy industry as its own responsibility. The fund was established in 2017 with a duration of 3 years and a total scale of 3 billion yuan. It was awarded the "Best State-owned Equity Investment Fund" by Caijing Magazine and successfully withdrawn in 2020.
