Sky Solar, Hudson Clean Energy Partners announce strategic partnership to fund up to USD 100 million solar PV projects

Sky Solar PV plant
Sky Solar PV plant

Sky Solar Holdings, Ltd.  (Hong Kong), a global developer, owner and operator of solar photovoltaic (PV) parks, and Hudson Clean Energy Partners (Teaneck, NJ, U.S.), a private equity firm specializing in renewable energy, on September 21st, 2015 announced a new strategic partnership to fund solar PV projects in Latin America and Japan with a total capital commitment from Hudson of up to USD 100 million.

The two parties have also agreed to collaborate on an expansion into the U.S. solar market.

As part of this partnership, Hudson will invest USD 50 million in the construction of approximately 128 MW of solar projects in Chile and Uruguay, and will receive a 49 percent minority equity stake in the projects upon their completion.

Hudson has allocated an additional USD 50 million for secondary market opportunities in Japan, subject to due diligence and other necessary approvals. Beyond this capital commitment, both parties have agreed in principle to collaborate on identifying and acquiring suitable renewable assets in the United States.

“We are delighted to be working with a leading specialized private equity and infrastructure fund to develop shovel-ready projects in our key markets,” said Sanjay Shrestha, chief investment officer of Sky Solar and president of Sky Capital Americas.

“In addition to the near-term capital investment, we believe Sky Solar will benefit from Hudson's long tenure as an investor in the renewable energy sector and unmatched industry experience in this strategic partnership.”

“We are excited about our partnership with Sky Solar, a company with deep power development expertise and substantial global reach,” added Neil Z. Auerbach, founder and managing partner of Hudson.

“They have developed a portfolio of high-quality solar projects in attractive markets such as Chile, Uruguay and Japan.”

 

2015-09-23 | Courtesy: Sky Solar Holdings, Ltd. | solarserver.com © Heindl Server GmbH

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