The fund, Hudson Clean Energy Partners, L.P., is the debut fund for the firm.
Hudson already invests in several green tech companies. Hudson named Wind to Power Systems, a Madrid-based electronics concern that enables the connection of renewable energy sources to the electrical grid; CaliSolar, a solar wafer and cell manufacturer that has an innovative cost structure; and SoloPower, a solar power module builder, as three of its investments.
The $1.024 billion raised for Hudson Clean Energy Partners, L.P. will further the firm's investments in green technology. Neil Auerbach, Hudson founder and co-managing partner, said that he looks forward to "selectively deploying this capital and building the next generation of successful clean energy companies."
John Cavalier, another co-managing partner, noted Hudson's ability to exceed its capital target in "challenging economic times." The private equity firm called the clean energy market "dynamic [and] fast-growing," an assertion with which investors in its debut fund agree.
Solar energy and green tech may be poised to take off in 2010, if investor optimism is any indication.
