GIC Invests in Sinopec Green Energy Geothermal Development

Posted on 12/15/2020


Singapore’s GIC Private Limited invested US$ 200 million in a geothermal heating company called Sinopec Green Energy Geothermal Development Co., which is backed by China Petroleum & Chemical Corporation (Sinopec).

Sinopec Green Energy Geothermal Development is considering a public offering. Sinopec Green Energy’s shareholders include Sinopec and its joint-venture partner, Iceland’s Arctic Green Energy Corporation.

Sinopec Green Energy was founded in 2006 as the world’s largest geothermal district heating company. The company provides heating to more than 60 cities and counties in China, according to Arctic Green’s website.

Keywords: China Petrochemical Corporation.

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