The company has 11 small hydro plants in China with capacities ranging from 5MW-100MW. Its portfolio comprises approximately 200MW of capacity. It holds the assets in various Chinese provinces through wholly-owned subsidiaries.

Over the next five years the company plans to add another 800MW of capacity to its hydro portfolio through either construction or acquisition in the provinces of Hunan, Hubei, Yunnan and Guizhou. It is focused on cascade developments, said Olympus Capital Holdings Asia which led the fundraising.

Fundraising was led through two funds – Asia Environmental Partners and Olympus Capital Asia III. US$10M was provided by Zhaoheng International as part of the fundraising.

Financial advice to the fundraising was provided by Macquarie Capital (Hong Kong).

Separately, last November, Olympus Capital Holdings Asia invested US$35M as part of the US$55M fundraising round it led for Orient Green Power, a biomass and small hydro developer based in India.