MIAMI and HONG KONG, Aug. 25, 2021 /PRNewswire/ -- Hudson Sustainable Group and affiliates (collectively, "Hudson"), and Sky Solar Holdings, Ltd. ("Sky Solar") jointly announced today that on August 3, 2021, Sky Solar, Hudson, and certain related parties entered into a Settlement Agreement (the "Settlement Agreement"), which resolves all disputes between the parties. Pursuant to the Settlement Agreement, pending litigations have been withdrawn and the parties have filed stipulations with courts in Cayman, New York, and Japan to discontinue legal proceedings. The Settlement Agreement contains certain conditions to be fulfilled on which both parties have agreed.
"Hudson is pleased to have executed this framework for settling the dispute with Sky Solar, which has been in litigation for over 2 ½ years," said Neil Auerbach, CEO and managing partner of Hudson. Similarly, Rui Chen, CEO of Sky Solar remarked that "Sky Solar can now turn its focus exclusively to developing its commercial opportunities globally with the settlement of its dispute with Hudson."
Hudson Sustainable Group ("Hudson", or the "Company"), with offices in Miami and Tokyo, is focused on investing in the sustainability sector globally, with an emphasis on renewable energy, resource efficiency, and other aspects of sustainability. Founded in 2007, Hudson acts as both a principal investor and asset manager and has made investments in 26 countries. For more information, visit www.hudsonsustainable.com.
About Sky Solar Holdings, Ltd.
Sky Solar is a global independent power producer ("IPP") that develops, owns, and operates solar parks and generates revenue primarily by selling electricity. Since its inception, Sky Solar has focused on the downstream solar market and has developed projects in Asia, South America, Europe, and North America. The Company's broad geographic reach and established presence across key solar markets are significant differentiators that provide global opportunities and mitigate country-specific risks. Sky Solar aims to establish operations in select geographies with highly attractive solar radiation, regulatory environments, power pricing, land availability, financial access and overall power market trends. As a result of its focus on the downstream photovoltaic segment, Sky Solar is technology agnostic and is able to customize its solar parks based on local environmental and regulatory requirements.