NEW YORK--(BUSINESS WIRE)--The Yangzhou Municipal Government Financial Affairs Office, representing a city at the forefront of China’s clean energy industry, and Hudson Clean Energy Partners, a leading U.S.-based private equity firm that invests exclusively in clean energy, announced today the execution of a Memorandum of Understanding to jointly establish a RMB Fund to invest in China’s rapidly growing clean energy markets.

Yangzhou – in Jiangsu, one of China’s most affluent provinces – and Hudson have developed a mutually beneficial relationship based on strategic cooperation. The joint venture will enable substantial new investment in China, help harness the country’s manufacturing prowess, and bring foreign technologies to China’s domestic market.

“The Municipal Government of Yangzhou is pleased to be entering into this important partnership with Hudson Clean Energy Partners,” said Mr. Xie Zhengyi, Mayor of Yangzhou. “Hudson’s reputation and expertise in the global clean energy arena make the firm an ideal partner for Yangzhou. We look forward to tapping into the full potential of China’s renewable energy sector alongside Hudson.”

Yangzhou and Hudson expect to formally establish the RMB fund in the coming months. Mr. Zhongmin Shen, who recently joined Hudson as head of operations in China, is leading the effort.

“Yangzhou is truly a leader in China’s clean energy sector, having demonstrated great foresight in supporting emerging companies in the space,” said Mr. Neil Auerbach, Co-Managing Partner of Hudson Clean Energy Partners. “Right now, as we seek to bring new opportunity to our investors, there’s no better strategic partner for Hudson in China. Our relationship with Yangzhou has great potential, especially given the accelerated growth in the country’s clean energy markets.”

In addition to Mr. Shen’s appointment, Hudson recently announced that the firm is in the process of opening an office in Beijing. The office will give Hudson a critical on-the-ground perspective as it enters the new partnership with Yangzhou.

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 Yangzhou City

Yangzhou is located in central Jiangsu Province, sitting on the northern bank of the Yangtze River, with the famous Beijing-Hangzhou Grand Canal running through it. Situated in the most robust economic area of the Yangtze Delta, Yangzhou represents an important nexus point between Shanghai and Nanjing, the two major economic and culture powerhouses in the area. With a total area of 6,634km² and a population of 4.6 million, Yangzhou is comprised of three districts and four counties. A well-known tourism hotspot, Yangzhou prides itself on its natural landscape, rich culture and long history.

Yangzhou is also economically robust. In 2010, the city’s GDP totalled 220 billion RMB, with a 13.6% growth rate. Yangzhou is dedicated to promoting key emerging industries such as clean energy, advanced lighting sources, new materials, smart grid and E-book.

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, and energy efficiency and services. 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, hydroelectric, biomass and other renewable sources. The firm is led by Co-Managing Partners Neil Auerbach and John Cavalier. Further information about Hudson can be found at www.HudsonCEP.com.

Contacts