The move into China will allow Hudson to both invest in Chinese cleantech companies and help Hudson’s existing portfolio of companies capture growth opportunities there, Hudson co-managing partner Neil Auerbach said in an interview.
“It’s now becoming an increasingly important place to raise money as well,” Auerbach added.
Hudson, which focuses on the market for renewable power, alternative fuels, energy efficiency and other clean technologies, has hired Zhongmin Shen as partner to lead its Chinese operations.
Shen was previously chief executive of Huaneng Invesco WLR Investment Consulting Company and has 17 years of experience in the independent power, private equity and clean energy sectors.
In an interview, Shen said the clean energy sector would benefit from the chinese government’s plan calling for more renewable energy. He expects solar power, energy efficiency and energy storage, in particular, to see strong growth in China.
Hudson is in the process of opening an office in Beijing.
Hudson’s investments include solar project developer Recurrent Energy, which was sold to Sharp Corp, smart meter maker Landis + Gyr, which is being sold to Toshiba Corp, and photovoltaic solar company SoloPower.
(Reporting by Nichola Groom, editing by Bernard Orr)