9 July '10
4:32 PM UTC
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Uncategorized

The Week In Green Energy: During Summer Doldrums Renewable Energy Funding Heats Up

The sweltering heat that has hammered the East Coast for the better part of the week did not dry up the renewable energy deal flow, as some developers managed to clinch crucial funding. And as is often the case these days — especially in the cleantech and renewable energy sectors — Washington was the de facto deal maker. Hence, as we headed into the Fourth of July weekend, some $2 billion in Department of Energy loan guarantees supporting solar developers.

Of the $2 billion announced by the President, Spanish company Abengoa Solar got $1.45 billion for the construction of the 250 megawatt Solana Concentrating Solar Power (CSP) plant in Arizona. Colorado-based start-up Abound Solar also scored a $400 million guarantee to scale production of its thin-film, photovoltaic modules from a current 67 megawatts to nearly 1 gigawatt over the next three years. Read More »

2 July '10
2:52 PM UTC
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The Week In Green Energy: Government As A Long-Term Investor

With the clock ticking on key stimulus-funded renewable energy programs, green capitalists are concerned. They are pressing Congress and the Obama administration to extend these funding programs, including the very popular 1603 direct cash grants.

Cleantech investors and developers want more than one-time handouts and are asking for long-term government funding.  At stake, they say is the U.S.’s ability to lead the global green economy.

This unabashed call for government money was one of the dominant themes of the (REFF), which recently ended in New York (see here or here for our coverage).  At a time when governments in industrialized economies are curtailing spending — or if they aren’t, are being pressed to do so — this call for more government intervention may seem unlikely to get much response. However, Wall Street’s green capitalist argue that governments have always supported strategic industries — like the oil and gas industry or agriculture – and they say renewable energy is one such industry. As is private capital alone can’t invest the large amounts required for clean energy to start making a serious dent on key emission targets, they add.
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4 December '09
10:29 AM UTC
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  Funding

Why The Rush of Cleantech Deals All of a Sudden?

Happy news all around.

The labor market showed signs of recovery this morning, with the rate of job losses slowing to almost zero in November, and the financing environment for cleantech looks to be improving by the day.

Yesterday we saw Hudson Clean Energy Partners pat itself on the back for raising just over $1 billion in what founder Neil Auerbach called “one of the most challenging funding environments in recent memory…”

No doubt, you did well Neil, but we’re pleased to say that that success may be symptomatic of a more general recovery. The Cleantech Group .

What can account for this rush? Read More »

3 December '09
2:37 PM UTC
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  Funding

Hudson Clean Energy Partners Raises $1B For Debut Clean Energy Fund

Hudson Clean Energy Partners has closed its debut fund, Hudson Clean Energy Partners, L.P., securing $1.024 billion in capital commitments, slightly above the $1 billion it initially set out to raise.

C.P. Eaton Partners was lead placement agent. Credit Suisse and Poalim Ventures also participated in the capital raising effort.

Former Goldman Sachs banker Neil Auerbach launched Hudson in 2007.

Hudson’s current portfolio includes utility-scale wind and solar developer Element Power; Recurrent Energy, a distributed solar power company and PV panel maker CaliSolar. Read More »