Intel has made its first green tech investment in China with a $20 million position in Trony Solar Holdings, which makes solar and wind power equipment. The investment comes from Intel Capital's $500 million second China technology fund.
Intel's investment, its first in clean technologies in China, will be used by Trony to enhance its production and research and development, the Chinese company, based in the southern export hub of Shenzhen, said in a statement.
Trony, set up in 1993, has sales in more than 20 countries.
The two companies did not provide details on the size of Intel Capital's equity stake or other terms of the investment.
"Investing in 'clean-tech' is relatively new for Intel Capital," said Stephen Eichenlaub, Intel Capital's managing director. "Clean technology area will take on a large strategic significance for Intel's future."
Escaping Oil
In addition to its investment in Trony, Intel Capital also announced plans to invest in NPH Holdings, a Chinese company specializing in electricity storage systems for renewable energy. But no details were provided.
China's renewable energy industry is growing quickly, as the country attempts to shift away from heavily polluting coal and oil-fired power generation to cleaner, more efficient energy sources.
It's not a question of surging oil prices but of long-term sustainability, Eichenlaub said.
"Our challenge as investors is to find technologies where we should be supporting innovation where the price of oil doesn't matter, because we can't control it," Eichenlaub said.
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