Recurrent Secures US $75 Million from Hudson Clean Energy Partners

Recurrent Energy on Wednesday announced that it has partnered with Hudson Clean Energy Partners. The announcement was made at Intersolar in San Francisco, California . Hudson has committed an initial US $75 million to fund the expansion of Recurrent Energy’s business providing “Solar as a Service” to commercial and industrial properties, as well as utility and government markets in North America and emerging markets around the world.

Recurrent Energy develops, owns and operates distributed solar power systems. It sells solar energy to large-scale energy users at competitive rates via a Power Purchase Agreement (PPA). The city and county of San Francisco recently adopted the “Solar as a Service” program, having announced plans for a 5-megawatt system with Recurrent Energy. The project will be one of the largest municipal solar photovoltaic projects in U.S. history.
 
“With today’s announcement, we’re combining the two key ingredients that are necessary to bring
solar power to scale, access to capital and the expertise to put it to use,” said Arno Harris, CEO of Recurrent Energy. “We’re excited to work with Hudson and its team of clean energy experts. It was clear from day one that we share a common vision of what it takes to be successful in the downstream solar market.”

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