Core Insights - The article emphasizes the significant growth and investment opportunities in the domestic renewable energy sector driven by geopolitical changes and energy security strategies, with a focus on achieving carbon neutrality and developing a new energy system [4][5]. Financing Overview - In 2024, the renewable energy sector saw 562 financing events, with early-stage financing (seed to A-round) accounting for nearly 70%, indicating a strong focus on technological leadership [6]. - The distribution of financing events shows a concentration in coastal economically developed regions, with Guangdong leading at 96 events, followed by Jiangsu at 93 events [9]. Regional Analysis - The renewable energy sector's development relies heavily on regional policy support, industrial chain economics, and professional talent resources, with the Yangtze River Delta and Pearl River Delta regions being key hubs [9]. Investment Focus - Investment is shifting towards hard technology, with significant capital directed at raw materials and key technologies (314 events), followed by energy storage (132 events) and hydrogen energy (82 events) [10]. - The focus on energy storage reflects the need for solutions to grid integration and peak shaving capabilities as installed capacity of wind and solar energy increases [10]. GP Selection and Background - A total of 1699 investment institutions were screened, resulting in 28 GP candidates with significant activity in the renewable energy sector [14][19]. - Most GPs in the renewable energy sector are backed by private capital, with a notable presence of industry-related shareholders [17][18]. Investment Stage Preference - The selected GPs predominantly focus on early-stage projects, with a significant portion of their investments in seed and A-round financing [24]. Performance Metrics - Key performance indicators for GPs include lead investment rates, independent investment rates, and the number of IPOs, which reflect their project selection and exit success [27][29][36]. Conclusion - The report aims to assist limited partners (LPs) in identifying active GPs in the renewable energy sector and provides comparative data to evaluate potential investment partners [41].