"Nobao Renewable Energy is China's industry leader in geothermal technologies," said Eric Chen, managing director of Silver Lake’s Hong Kong office, in a statement.
“[Given the ] increasing demand for clean technology, and the Chinese government's focus on a greener economic future, we are optimistic about Nobao's prospects and believe that the company is well-positioned to continue its impressive growth,” he said.
Based in Shanghai, Nobao Renewable Energy Holdings Limited is a leading provider of fully-integrated clean energy management solutions in China utilizing ground source heat pump (GSHP) technologies.
The company offers integrated energy management solutions for a wide variety of buildings, primarily through energy management contracts by designing, manufacturing and installing GSHP heating, ventilation, air conditioning and hot water supply systems as well as providing post-installation maintenance services typically over 10 to 20 years.
Its three wholly-owned subsidiaries are Eastern Well Holdings Limited, Nuoxin Energy Technology (Shanghai) Co., Ltd., and Jiangxi Nobao Electronics Co., Ltd.
Silver Lake has not provided any details on the size of its stake in the company, but it did sing its praises, noting that Nobao's fully-integrated geothermal technology typically can save up to 70 percent of energy consumption compared to conventional fuel- and electricity-based systems.
Founded in 1999, Silver Lake is considered a leading investment firm in the technology sector and among its most notable investments are Avaya, Sabre Holdings, UGS Corp., Skype, Seagate Technology, and Instinet.
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