Hudson Clean Energy has launched its inaugural solar infrastructure investment programme, Hudson Solar Infrastructure Program (HSIP), with closed commitments of up to USD150m.
HSIP will make equity investment in solar photovoltaic (PV) power generation projects worldwide.
HSIP expands Hudson’s clean energy market product offering, which began in 2007 with a growth private equity fund in excess of USD1bn in size.
“Our goal is to provide our investors access to high-quality solar PV projects that generate a steady stream of long-term cash flows at attractive, risk-adjusted yields,” says Daniel von der Schulenburg, Hudson vice president and programme manager for HSIP. “In contrast to many other funds, we are willing to fund the construction phase as well as acting as long-term project equity in solar PV projects across the globe. We look forward to expanding our relationships with leading developers and seizing new opportunities in the market.”
For more than a decade, the Hudson team has invested in clean energy development companies and independent power producers, including SunEdison, Recurrent Energy, Element Power Solar, Element Power Holdings, Horizon Wind Energy, Eagle Creek Renewables and Golden State Environmental Investment Corporation (GSEI).
“As a pioneering firm in clean energy private equity and one of the largest clean energy managers in the market, Hudson’s vision is to provide investors with unmatched expertise to meet their investment objectives. We are extremely pleased to be able to offer investors a product that addresses their appetite for yield and duration,” says Neil Auerbach, founder and managing partner of Hudson. “Almost a decade ago, while leading the alternative energy investment business at Goldman Sachs, Joe Slamm (Hudson partner in charge of Hudson’s infrastructure effort) and I helped launch one of the first solar infrastructure funds in the world on behalf of SunEdison. This new solar infrastructure programme is a sort of déjà vu for us. We believe the timing is right as the interest level among both investors and developers is quite high, and we hope to continue growing this platform for years to come.”
