19 January 2019

Alibaba fund may invest in PV power station, paper says

A monetary fund of Alibaba Group Holdings may invest in photovoltaic (PV) power plants to secure steady gains, the Shanghai Securities News reported Thursday, citing an unidentified source. Alipay, Alibaba’s third-party payment unit, will launch a new closed-end fund “Ding Qi Bao” after the spring festival, it said. To broaden investment channels and get fixed income, Alibaba is currently approaching a state-owned PV power station operator and hopes to make a green investment, the paper said. An official with Alibaba was quoted as saying that he is unaware of the matter.

– Contact HKEJ at [email protected]



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