Hudson commits USD 100m to Sky Solar projects in LatAm, Japan

Sky Solar Holdings Ltd (NASDAQ:SKYS) has agreed a capital commitment of up to USD 100 million (EUR 89.5m) from Hudson Clean Energy Partners to fund shovel-ready solar projects in Latin America and Japan.

The strategic partnership will see the New Jersey-headquartered, renewables-focused private equity firm spend USD 50 million on the construction of about 128 MW of solar projects in Chile and Uruguay in exchange for a 49% stake in each of them upon completion. The remaining USD 50 million will be directed towards secondary market opportunities in Japan, the two parties said on Monday.

The partners have also agreed to cooperate on an expansion in the US solar sector.

Hong Kong-based independent power producer Sky Solar has already developed a portfolio of solar projects in these attractive markets, noted Neil Auerbach, founder and managing partner of Hudson.

(USD 1.0 = EUR 0.895)

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