A partnership agreement on a new energy private equity fund was entered into among Shanghai Electric Finance Group, Shanghai Electric Wind Power Group, and China Huaneng Group (CHNG) on June 4. It is another solid step of Shanghai Electric Finance Group toward fueling Shanghai Electric with industry funds.

With CHNG's fund management company as the initiator, the fund has three participants: CHNG subsidiary (51% shares) and Shanghai Electric Investment Co., Ltd. affiliated to Shanghai Electric Finance Group and Shanghai Zhi Heng New Energy Co., Ltd. under Shanghai Electric Wind Power Group (49% shares combined). The fund will target new and under-construction wind power projects.