Chengdu Expressway (01785) said it will contribute RMB 150 million as a new subordinated limited partner to Chengdu Zhuoyue Microgrid M&A Equity Investment Fund Partnership, taking a 15% stake, according to ETNet.

The fund has a total size of RMB 1 billion and will engage in equity investment, investment management and asset management through a private fund structure. Its investments will focus on photovoltaic and energy storage assets, including the acquisition of mature commercial and industrial distributed solar power stations operating mainly under a self-consumption model with surplus electricity fed into the grid. The portfolio is expected to total about 560 megawatts across roughly 200 solar stations, with an average capacity of about 3 megawatts each.