Huakong Power
Huakong Power specializes in manufacturing and developing energy-saving solutions and intelligent control services.
- Energy
- Electronics
| Date | Investors | Amount | Round |
|---|---|---|---|
* | CNY5.0b | Growth Equity non VC | |
| Total Funding | 000k | ||
Established in Beijing in March 2020, Huakong Power Group Co., Ltd. operates as a comprehensive energy service provider with a strategic focus on the new energy sector. The company, led by Chairman Li Baocheng and legal representative Yang Yuanwei, directs its efforts towards the development and operation of renewable energy assets.
Huakong Power's core business encompasses several key areas within the clean energy landscape, including the development of wind and photovoltaic power generation projects, the construction and management of energy storage power stations, and the implementation of microgrid solutions. The company's business model is centered on providing integrated energy services, aiming to build a substantial portfolio of new energy power generation capabilities. To this end, Huakong Power has stated it holds over 2 million kilowatts of exploitable new energy resource reserves.
A significant milestone in the company's growth was the successful procurement of 5 billion yuan (approximately $693 million) in a strategic financing round in March 2024. This capital infusion, backed by investors such as Beijing's Qingwang Fund and the Shenzhen-based private market firm Tamarace Capital, is intended to fuel the company's expansion, technological development, and the acquisition of new energy power plants. This funding directly supports the firm's strategic initiatives, including a notable project in Wulan County, Qinghai. This resource-rich region is the site for a planned investment of up to 6 billion yuan for the construction of new solar and wind power facilities, underscoring the company's commitment to large-scale renewable energy infrastructure projects.
Keywords: renewable energy, power generation, energy storage, wind power, solar power, photovoltaic cells, integrated energy services, microgrid solutions, clean energy, Beijing startup, energy infrastructure, new energy assets, Tamarace Capital, Qingwang Fund, power plant development, energy project investment, renewable asset operation