In October 2023, Silk Road Fund (SRF) closed a deal with a large European energy company by establishing a Pan-Europe Solar Photovoltaic (PV) Platform and investing into a global upstream oil and gas project at the same time. With the carbon emission reduction of the PV project completely offsetting the emission of the upstream oil and gas project, SRF effectively reduces the carbon intensity of its portfolio, by packaging green assets with brown assets. In addition, SRF has incentivized the investee company to improve ESG capacity through an ESG-linked carry sharing mechanism.

The Pan-Europe Solar PV Project develops and operates solar power plants in 12 European countries, reducing more than 200,000 tons of carbon dioxide emission per year. The target company of the upstream oil and gas project is one of the first oil and gas companies in the world to support the Kyoto Protocol and commit to achieving "net-zero emission" by 2050.

ACWA Power Renewable Energy Holding Ltd. (ACWA Power RenewCo) is a renewable energy investment platform jointly established by Silk Road Fund with ACWA Power, a leading developer, owner, and operator of power generation and water desalination plants. ACWA Power RenewCo acts as the main vehicle dedicated to renewable energy development with full support of ACWA Power, and currently owns a number of renewable energy projects in West Asia and Africa, including wind, photovoltaic, solar thermal and other types of green energy.

Supporting both the Green Silk Road Initiative and Saudi Arabia's "Vision 2030", the platform’s investment fuels local economic development and generates social and environmental benefits. The invested projects target local emission benchmarks and are expected to reduce CO2 emissions by about 110 million tons in aggregate during their operation period.

The ACWA Renewable Energy Platform won the 2020 GIP Best Green Finance Transaction Award and the 2020 Asiamoney New Silk Road Finance Awards in Middle East and Africa.