Sky Solar Holdings and Hudson Clean Energy Partners have recently established an association that aims to fund solar projects in both Latin America and Japan, with a total capital commitment from Hudson Clean Energy of up to $100 million; as part of the agreement, both companies are committed to invest on suitable renewable assets across the United States.
Chile and Uruguay will receive an investment of $50 million from Sky Solar or the construction of approximately 128 megawatts of solar project. The company will receive 49 percent minority equity stake in the projects upon their completion. A $50 million investment in Japan from Hudson is still waiting for approval.
"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."
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