Hudson Clean Energy Partners has acquired Helium Energy, a Madrid-based renewable energy development company. No financial terms were disclosed. Helium will be integrated into Hudson’s Element Power platform, which will focus on utility-scale wind and solar development throughout the globe.
Hudson Clean Energy Partners announced today that it has acquired Helium Energy S.L.U. (“Helium”), a leading renewable energy development company headquartered in Madrid, Spain, through its newly created portfolio company, Element Power (“Element”).
Helium was formed in 2006 by the former head of Iberdrola’s renewable business, Pedro Barriuso, who is considered one of the most experienced developers of wind and solar energy in the world. Under Mr. Barriuso’s leadership, the Helium team has grown to 25 professionals who bring significant expertise in renewable energy project development, project financing, equipment procurement, engineering and construction, and asset management. The company has successfully built several solar projects including one of the largest to date in Europe, and has over 4,000 megawatts of wind and solar projects under development in Europe and Latin America.
The Helium purchase represents a significant milestone in the execution of Hudson’s strategy, led by Hudson Partner Joe Slamm, to develop a leading global renewable energy independent power producer (“IPP”) focused on utility-scale wind and solar development. Element will have a global footprint, with a significant operational presence in the U.S., Europe and other key markets. Element’s operations outside North America will be co-managed by Mr. Barriuso and Mike O’Neill, a leading wind energy executive who joined Hudson in August 2008. Helium will be integrated into Hudson portfolio company Element Power.
Mr. O’Neill, former Commercial Director of the Renewable Energy Systems Group (“RES”), expressed his enthusiasm at taking on the new position: “Helium has an extensive portfolio of wind and solar assets, as well as a peerless team of industry professionals. I look forward to working with Pedro and his team to develop Helium into one of the pillars of Element’s operational presence outside of the United States.”
Mr. Barriuso added, “Mike and I are dedicated to building the Element Power platform into a global market leader of carbon-free power generation, and I am very excited to have the Hudson team and reputation behind me.”
Hudson Founder and Co-Managing Partner Neil Auerbach remarked, “Element’s purchase of Helium presents a unique opportunity to acquire a company with one of the world’s premier wind and solar development teams, and a diversified development portfolio in high-value mature and emerging markets. We are delighted to be working with Pedro and Mike who are world-class thought leaders in the industry.”
“We are very excited at this remarkable investment opportunity,” said John Cavalier, Hudson Co-Managing Partner. “Helium meets our high bar for acquiring strategically located utility-scale renewable energy assets in high-growth markets, combined with superb management talent and sector expertise. Collectively, this is a management team that has very successfully executed the development and delivery of thousands of megawatts of renewable energy around the globe. We are confident this will be the leading platform in the renewable energy sector.”
This statement does not constitute an offer of sale, or a solicitation of investors or purchasers, in respect of the securities of any person in any jurisdiction.
About Helium Energy
Helium Energy was established in 2006 to develop, build and own wind and solar projects in Spain and other European and South American markets. Helium has successfully developed and built over 45MW of solar projects in Spain, including the 35.6MW Olmedilla project. Helium has also developed and is constructing two Spanish wind projects, 11.6MW at Sorihuela and 50MW at Almatret. The company has a multi-GW development pipeline of wind and solar projects throughout Europe, together with projects in Panama and Chile.
About Hudson Clean Energy Partners
Hudson Clean Energy Partners is a private equity firm that invests in the dynamic and fast-growing clean energy market. Hudson invests in companies focused on renewable power, alternative fuels, energy storage and demand-side energy management. Hudson’s investment strategy focuses on high-growth, asset-based, capital-intensive segments of the clean energy value chain using commercialized technologies to extract energy from wind, solar, geothermal, biomass and other renewable sources. Further information about Hudson can be found at www.HudsonCEP.com