Private equity firm Hudson Clean Energy Partners has raised $150 million for its “inaugural” solar infrastructure investment platform, according to a press release.
The ‘Hudson Solar Infrastructure Program’ (HSIP) will invest in solar photovoltaic (PV) power generation, expanding the clean energy product line Hudson began in 2007, the press release added.
Hudson vice president and HSIP portfolio manager Daniel von der Schulenburg in a statement said the Program differentiated itself via its willingness to “fund the construction phase as well as acting as long-term project equity”. Natasha Farquharson, head of investor relations and chief administrative officer for Hudson in Trenton, New Jersey, did not respond to a voicemail message asking for additional comment on HSIP.
Hudson has a realised PV investment in Recurrent Energy, a San Francisco-headquartered independent power producer (IPP) and PV power developer. Photovoltaic technology is used to convert solar radiation into electricity.
Hudson is run by Neil Auerbach and Joseph Slamm, who co-founded the Goldman Sachs alternative energy investment business before starting Hudson Clean Energy in 2007. The firm closed its debut fund in 2009 with $1 billion, having secured $100 million from the New York State Common Retirement Fund (CRF), as well as $400 million from ATP and $100 million from Credit Suisse Group.
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