Enel Green Power and Sharp Reach Deal on Off-take Agreement for 3Sun Factory Output

Published July 15th 2014 at 1:42pm
Enel Green Power  Sharp 
July 11, 2014 – Enel Green Power SpA and Sharp Corporation have reached a deal under which Enel Green Power will assume Sharp's obligations arising from the off-take agreement concerning the output of photovoltaic panels manufactured at the Catania factory of 3Sun Srl ("3Sun"), the equal joint venture between Enel Green Power, Sharp and STMicroelectronics.

The off-take agreement is a contract under which Enel Green Power and Sharp committed to purchase the entire output of the 3Sun Catania facility.

The consideration due to Enel Green Power from Sharp amounts to 95 million euros. Under today's deal, Enel Green Power commits to acquire Sharp's equity stake in Enel Green Power & Sharp Solar Energy Srl ("ESSE").

Once the acquisition of the equity stake is formalized, Enel Green Power will hold 100% of ESSE.

ENF Profiles For Companies Mentioned in This Article

Enel Green Power (Solar System Installers): http://www.enfsolar.com/directory/installer/13477
Sharp (Solar System Installers): http://www.enfsolar.com/directory/installer/2548
Sharp (Solar Components): http://www.enfsolar.com/directory/component/2548
Sharp (Solar Materials): http://www.enfsolar.com/directory/material/2548
Sharp (Solar Panels): http://www.enfsolar.com/directory/panel/2548
Sharp (Solar Applications): http://www.enfsolar.com/directory/application/2548
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