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VantagePoint has created a $100 million fund for investing in renewable energy in China, focusing on investment opportunities in the city of Tianjin and the Tianjin-Bohai region in Northeast China.

Both China and the U.S. lead the world in energy consumption and carbon emissions, and a report by Ernst & Young released last week found that China has overtaken the U.S. in terms of cleantech investment.

As Reuters notes, part of the rise of China in green energy is thanks to the country’s pressing energy challenges, readily available finance sources and strong local markets. Comparatively, in the U.S., there’s less financing available for cleantech companies, which also consistently lament the dearth of strong federal policy on clean energy.

Tianjin, a city in northeast China, and the surrounding Bohai region is a rising economic area and has a strong manufacturing industry.

The fund will be managed with Tianjin Hi-Tech Holding Group and Tianjin Binhai Development Investment Holding Co.

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