Canadian Solar to Acquire Sharp's North American Solar Subsidiary

Published on 10 Dec 2014
Sharp  CSI(Canadian Solar) 
Japan's Sharp Corp. is set to sell its U.S.-based solar energy development unit Recurrent Energy to Canadian Solar Inc for about 30 billion yen ($247 million).

Sharp aims to reach a basic agreement with the Canadian firm by the end of the month and complete the sale by spring without citing sources. The Japanese firm could not be immediately reached for comment.

Sharp paid $305 million in cash in 2010 to acquire Recurrent Energy. Selling the company now would help Sharp to raise capital as it struggles to raise its equity ratio to a healthy level.

This year, Sharp shut down its UK solar plant and also pulled out of a venture with Italian energy firm Enel SpA to make solar panels and generate solar power. 


Source: Reuters
ENF Profiles For Companies Mentioned in This Article

Sharp (Solar Components): http://www.enfsolar.com/directory/component/2548
CSI(Canadian Solar) (Solar Components): http://www.enfsolar.com/directory/component/2540
Sharp (Solar Materials): http://www.enfsolar.com/directory/material/2548
CSI(Canadian Solar) (Solar Materials): http://www.enfsolar.com/directory/material/2540
Sharp (Solar Panels): http://www.enfsolar.com/directory/panel/2548
CSI(Canadian Solar) (Solar Panels): http://www.enfsolar.com/directory/panel/2540
Sharp (Solar System Installers): http://www.enfsolar.com/directory/installer/2548
CSI(Canadian Solar) (Solar System Installers): http://www.enfsolar.com/directory/installer/2540
Sharp (Solar Applications): http://www.enfsolar.com/directory/application/2548
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