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Recurrent Taps into Hudson Clean Energy Partners

SAN FRANCISCO-The installer of rooftop solar arrays come to terms with Hudson for a $75-million "financing partnership" that will help Recurrent expand its service offering.

By Brian K. Miller | Updated on July 16, 2008

SAN FRANCISCO-San Francisco-based Recurrent Energy, which leases the rooftops of industrial buildings for its solar arrays, today announced a $75 million financing partnership with Hudson Clean Energy Partners. The partnership is meant to help Recurrent expand its business of providing solar power as a service to commercial and industrial properties, as well as utility and government markets.

“We anticipate that this is just the beginning of an even larger financing relationship,” says Hudson’s founder and co-managing partner Neil Auerbach.

Recurrent Energy develops, owns, and operates distributed solar power systems, selling clean energy to large-scale energy users at competitive rates via a power purchase agreements. Instead of incurring the upfront cost themselves, the customer or its landlord leases its rooftops to Recurrent, who installs a solar array and leases the generated power to the customer.

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