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Solar Opportunity for Sovereign Wealth Funds

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Over the past few years, solar energy has been in demand driven by government subsidies, rising cost of fossil fuels, shifting regulatory environments, and organizations wanting to go greener. Aggressive public policy from various states and nations have further increased stimulus and awarded tax credits in the renewable sector to foster industry growth. Then in 2008, the financial crisis hit, causing meltdown in the capital markets. Some solar companies had trouble accessing capital; not all solar manufacturers experienced this. Through market distortion, these global subsidies coupled with the financial crisis, created the environment for an oversupply of solar panel manufacturers. The effect was a major decline in the price of solar panels, thus eroding profit margins in the solar manufacturing sector. In fact, on Wednesday Germany solar company Solar Millennium filed for insolvency which is probably not the last to file for bankruptcy. In the United States, the headline solar company to fail was American taxpayer-backed Solyndra based out of Fremont, California. Yes, solar energy was losing its luster in 2010, but if priced right, it can be a reliable investment.

Polysilicon prices have plunged more than 90% percent in three years.

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Ping An Good Doctor Lures Big Public Asset Owners

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Ping An Good Doctor, formerly known as Ping An HealthCare and Technology Company, is a Chinese online healthcare platform that is part of Ping An Insurance (Group) Company. This unit is planning to be offered in a Hong Kong initial public offering that could raise as much as 8.8 billion HKD in shares at 50.80 or 54.80 HKD per share.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek and Schneider Electric Eye L&T Electrical Unit

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Singapore’s Temasek Holdings and France-based Schneider Electric are in talks to acquire Larsen & Tourbo’s electrical and automation business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CalPERS Allocates $1 Billion Internally to a Global ESG Strategy

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In February 2018, the California Public Employees’ Retirement System (CalPERS) allocated US$ 1 billion to an internally-managed QSI Global ESG strategy. The internally-managed strategy was developed by New York-based QS Investors, LLC, a subsidiary of Legg Mason. CalPERS entered into a 5-year contract with QS Investors, with a possible spend of over US$ 1 million per annum.

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