London-based alternative investment manager Climate Change Capital plans to invest 5 billion yuan (US$732 million) in environmental projects in China over the next two to three years, according to a Reuters report.
To date the firm has not invested in China, but intends to create a yuan-denominated fund in the next two to three years.
Ka Keung Chan, managing director and head of China investments for the fund, told Reuters the financial crisis offers great opportunity for Climate Change Capital to boost its presence in the mainland as assets are cheaper and company owners have a harder time securing capital.
"There are a lot of cheap assets lying out there. If you see the right company, this is the best time to negotiate," said Chan, who joined the firm in February after serving as managing director for renewable energy at Hong Kong electric utility CLP Holdings.
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