Hudson Clean Energy Partners, a clean-energy private equity investor, joined with the Middle East developer Adenium Energy Capital to invest $300 million in large solar farms in Japan.
Adenium completed a 20-megawatt solar farm in Japan in May and has another 75 megawatts of projects under development, according to an e-mailed statement Tuesday.
Japan offers strong incentives for solar energy that are driving an installation boom, said Neil Auerbach, chief executive officer of Teaneck, New Jersey-based Hudson Clean Energy.
Japan is “an attractive market and we take a cautious approach,” Auerbach said in a phone interview Tuesday.
Japan is expected to add more than 11 gigawatts of solar capacity this year, trailing only China’s estimated 17.5 gigawatts, according to Bloomberg New Energy Finance.