Two leading clean energy private equity funds have entered into an agreement that will see $300 million invested into Japan’s solar power market.
Hudson Clean Energy Partners has committed to invest $300 million in solar power projects being developed by Adenium Energy Capital, supporting the development of solar power projects through long-term equity finance. Adenium currently has a project pipeline of 75 MW, a figure which is expected to increase: Adenium commissioned a 20 MW solar photovoltaic power project in May this year after securing debt finance from local agencies.
Japan’s solar power market has attracted several foreign investors over the last few months after the government announced a push in the renewable energy sector and notified new tariffs for solar power projects.
Recently, China-based SPI Solar announced a joint venture with an Osaka-based corporation to develop 500 MW solar power project in Japan. SPI Solar will be responsible for project funding, construction, and equipment procurement.
California-based Pattern Energy acquired majority stake in Tokyo-based renewable energy project developer and operator Green Power Investment Corporation, and will also have ‘right of first offer’ to acquire around 1 GW of solar power projects under development by Green Power Investment.
Last year, GE Energy Financial Services announced equity investment in a 32 MW solar PV project being developed by Pacifico Energy.
Dubai-based Adenium Energy Capital is a private equity firm that manages or co-manages over 500 MW of solar PV investments in various markets including Italy, Jordan, Egypt, and Japan. Hudson Clean Energy is a private equity and infrastructure firm dedicated exclusively to investing in renewable power and clean energy.
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