China Investment Corporation (CIC), the nation’s US$300 billion sovereign wealth fund, is going to invest US$1.121 billion in two clean-energy firms, the Wall Street Journal reported, citing people close to the matter. CIC will buy a 20% stake in Hong Kong-listed co-generation power plant operator GCL-Poly Energy Holdings in a deal worth US$717 million. The two entities will also establish a joint-venture company to develop solar power projects. CIC has also agreed to purchase US$300-US$500 million in shares in wind energy company China Longyuan Power Group’s initial public offering. Analysts said the deals are evidence of the government’s support for the clean energy sector, an important part of China’s forward-looking development strategy.