Daily News: July 10, 2014

Hudson Clean Energy Provides $100MM Financing to Astrum Solar

Astrum Solar and Hudson Clean Energy announced the signing of a partnership agreement, whereby Hudson will provide Astrum with up to $100 million of financing to support the costs of residential solar installations throughout the U.S.

The financing program will allow Astrum to accelerate its mission of spreading solar power to residential rooftops at a time the award-winning national residential solar provider is rapidly expanding its footprint in key solar markets across the country.

The financing program expands Hudson’s global clean energy investment portfolio, which began in 2007 with a growth private equity fund in excess of $1 billion in size and has continued with Hudson’s solar infrastructure fund raised last year.

“Though the cost of residential photovoltaic systems has declined, for some homeowners the up-front cost remains greater than what they can afford out of pocket,” said Wilson Chang, Hudson vice president. “There remains a very real need for creative and attractive financing solutions in this space that Hudson has identified and is working in partnership with Astrum to fulfill.”

Astrum Solar is a national designer and installer of residential solar photovoltaic arrays.