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Hudson Clean Energy Partners exceeds USD1bn fund target

Hudson Clean Energy Partners has officially closed its debut fund with commitments of USD1.024bn, successfully achieving its USD1bn target.

Hudson will deploy this capital along with co-investment commitments to expand the firm’s current investment portfolio in the clean energy markets.

Founded in 2007, Hudson Clean Energy Partners is led by renewable energy executives Neil Auerbach (pictured) and John Cavalier.

Auerbach previously founded the US alternative energy investing business within Goldman Sachs’ special situations group, where he led several of Goldman’s most successful investments in renewable energy.

Cavalier was formerly vice chairman of Credit Suisse’s investment banking department and served as chairman of the energy group and head of Credit Suisse’s global renewable energy efforts.

Cavalier says: "We are extremely pleased to have overcome challenging economic times to exceed our fund target of USD1bn. This remarkable achievement is testament to the strength and collaboration of the Hudson team, and our track record of excellence in renewable energy investing."

Hudson’s current portfolio includes Element Power, a global utility-scale wind and solar power generator; Recurrent Energy, a distributed solar power company that develops, builds, owns and operates generation assets; CaliSolar, a solar photovoltaic (PV) wafer and cell manufacturer with an industry-leading cost structure; SoloPower, a manufacturer of solar PV thin-film cells and flexible modules; and Wind to Power Systems, a Madrid-based manufacturer of power electronics that enable connection of renewables to the grid.

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