Morgan Stanley-led group invests another $150 million in Chinese hydropower company

A consortium led by financial group Morgan Stanley has invested US$150 million into China’s Zhaoheng Hydropower Holdings Ltd., has learned.

The consortium — which consists of the Morgan Stanley Infrastructure Fund, FountainVest Partners Co. and Olympus Capital Holdings Asia — doubles a previous investment in Zhaoheng made in 2010.

Morgan Stanley says this investment — combined with its 2010 investment — now represents the largest private investment in China’s renewable energy and hydroelectric sector with a value of about $300 million.

Zhaoheng says it will use the investment to buy hydropower plants and increase its total generating capacity to exceed 1 GW over the next two years. The company currently operates more than 30 hydroelectric plants in seven provinces, which combine for a total installed capacity of about 650 MW.

The company acquired its first hydropower plant in 2003. Zhaoheng operates mainly in Hunan Province.

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