GIC will acquire a minority stake in a new China wind power investment venture set up by Brookfield Asset Management, three sources told Infralogic.

The Singaporean investor, which manages Singapore’s foreign reserves, will purchase a 45% stake in the venture. Shanghai-based Chinese wind turbine manufacturer and project developer Envision Energy will take a 6% stake in the vehicle, the sources added.

Following the investments, Brookfield will own a 49% stake in the wind farm investment platform as the largest shareholder.

The venture will target both brownfield acquisitions of operational assets as well as the development of new wind farms, according to the sources.

GIC is already an investor in China. In 2018 it teamed up with GLP to establish GLP China Value-Add Venture II, a fund focusing on logistics facilities. It also invested in Chinese companies including e-commerce platform Meituan-Dianping.

Brookfield Renewable Partners, the clean energy-focused offshoot of Brookfield Asset Management, is one of the world’s largest owners, operators and developers of clean power.

It reported a combined 8 GW of contracted and operating assets at the time of announcing its second quarter financial results last month, as well as a 20 GW advanced stage pipeline with completed technical studies, and land and interconnection secured.

The asset manager has been an active investor in China’s solar and wind assets.

In 2018, the company teamed up with GLP to form a 50:50 joint venture to invest in distributed solar energy projects on commercial rooftops.

Brookfield has USD 16bn in assets under management in China across various sectors, including more than 1.3 GW of operational wind plants, according to its website.

A Brookfield spokesperson declined to comment. GIC and Envision did not reply to requests for comment.