Hong Kong-based developer Sky Solar Holdings Ltd. and New Jersey-based Hudson Clean Energy Partners have signed a deal to fund solar projects in Latin America and Japan.
The two parties have also agreed to collaborate on an expansion into the U.S. solar market.
As part of the partnership, Hudson will invest $50 million in the construction of approximately 128 MW of solar projects in Chile and Uruguay. It will receive a 49% minority equity stake in the projects upon their completion. Hudson has allocated an additional $50 million for secondary market opportunities in Japan, subject to due diligence and other necessary approvals.
Beyond this capital commitment, both parties have agreed, in principle, to collaborate on identifying and acquiring suitable renewable energy assets in the U.S.