Sky Solar partners with Hudson Clean Energy on $100m solar projects

Share

Sky Solar, the Hong Kong-based developer of solar parks, has announced that it is to enter into a strategic partnership with Hudson Clean Energy Partners (Hudson) to invest $100 million in developing solar PV projects in Latin America and Japan.

Hudson, a U.S.-based private equity firm that specializes in the development of renewable energy portfolios, will put forward $50 million towards the strategic partnership fund. These monies will be steered towards secondary market opportunities in Japan.

Hudson will also invest $50 million to be put towards the construction of around 128 MW of solar projects in the Latin American markets of Uruguay and Chile.

Upon the completion of these projects, Hudson will receive a 49% minority equity stake. Further, both parties will use the investment partnership to identify further suitable renewable assets in the U.S.

"In addition to 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," said Sky Solar CIO Sanjay Shrestha.

Earlier this month Sky Solar augmented its financing pot for Japanese solar projects by more than $33 million, having struck a lucrative deal with TK Associate, which will work with Sky Solar subsidiary Sky Solar Japan to develop a PV project pipeline in Japan.

Following the announcement of this latest $100 million partnership, shares in Sky Solar jumped to a one-month high, rising 15% to reach $7.05 having plumbed record lows in August.

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Share

Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.