GREENTECH company Envision Group is receiving over US$1 billion in investment by Singapore's sovereign wealth fund GIC along with private equity firms Sequoia Capital and Primavera Capital, "to accelerate the pace of energy transition and explore net zero opportunities through strategic partnerships".

Announcing this at the United Nations Climate Change Conference on Monday evening Singapore time, Envision Group chief executive officer Lei Zhang said this "will enable Envision to mobilise capital investors for building the net zero economy". Envision's businesses include renewables, hydrogen, battery and digital solutions.

GIC chief investment officer of infrastructure Ang Eng Seng said: "Envision is a fast-growing and global leading renewables and greentech company with the depth and breadth of products in the renewable energy space that would make a significant impact to the world's demand for decarbonisation.

"As a long-term global investor, we look forward to working with Envision on its various cleantech ecosystems, including new wind farms and energy transition assets across the markets."

China-based Primavera Capital Group's founder and chairman Fred Hu said it intends to support Envision's expansion and growth, noting the possibility of leveraging strengths "in both domestic and international markets", including Primavera's ecosystem of portfolio companies.

Sequoia China founding and managing partner Neil Shen said: "This is a strategic investment to promote the construction of a new global green industrial system."

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