The London Asia Chinese Private Equity Fund Limited (LACPEF) the China focused investment fund, announces that it is investing?approximately € 4,4?million for a 12 per cent stake in Asia Wind Group Ltd.
Asia Wind is a Guernsey incorporated investment company which intends to build a significant portfolio of wind energy related businesses, capitalising on the rapidly expanding wind energy sector in Asia and availability of leading edge Western technologies. Asia Wind will acquire minority stakes in technology companies, project developers and operators of wind farms in Asia. Additionally, Asia Wind will invest into Western technology companies that seek both funding for expansion into Asia and local partnerships. Following this investment London Asia Capital plc (LAC) has agreed to transfer all of its wind projects and opportunities, built up over several years, to Asia Wind. Christoph Löslein, who to date has acted as a consultant to LAC’s energy and environment interests and who is a director of LAC subsidiary company Clean Technology plc, has become Chief Executive of Asia Wind. Simon Littlewood and Victor Ng, both Executive Directors of the LACPEF and of LAC, have joined the Board of Asia Wind as non-executive directors. Companies associated with them were involved in the initial founding and funding of Asia Wind and remain shareholders.
