As part of the transaction, Hudson has committed to invest long-term equity in Adenium's utility-scale solar PV pipeline in Japan to fund the construction of roughly US$300 million in assets.
The two companies have formed the partnership to jointly capture the compelling investment opportunity presented by utility-scale solar PV projects in Japan.
Wassef Sawaf, CEO of Adenium, has commented:
"Our partnership with Hudson Clean Energy Partners marks an important milestone for Adenium as we secure long-term funding for our growing pipeline in Japan. We look forward to working closely with Hudson and aggregating both of our firms' experience and leadership in the sector. Japan is a critical market for Adenium, one in which we aim to continue to drive value for the firm and our investors."
Adenium will continue to develop its growing solar pipeline of over 75 MW, using the partnership to fund the construction and long-term ownership of the projects.