Sharp Seeks Sale of Recurrent Energy

Published on 9 Sep 2014
Sharp  Recurrent Energy 
September 8, 2014 - Sharp Corp. is seeking to sell its U.S. solar-energy development unit Recurrent Energy.

Sharp has retained Bank of Nova Scotia to help shop San Francisco-based Recurrent, according to documents obtained by Bloomberg. Profit in Osaka-based Sharp’s energy unit plunged 97 percent in its first fiscal quarter as residential solar sales slumped in Japan.

The sale would be Sharp’s latest step back from the solar industry. The company stopped making panels in the U.S. and U.K. this year and pulled out of an Italian panel-manufacturing joint venture.

“Sharp is considering various options for Recurrent including sale of the company, but nothing has been decided at this point,” Miyuki Nakayama, a spokeswoman for Sharp, said by phone today.

"Recurrent declined to comment on Sharp’s strategy," the company said in an e-mailed statement. "Last year Recurrent raised more than $2.3 billion in equity and debt financing and brought 303MW into operation," according to the statement.


Source: Bloomberg
ENF Profiles For Companies Mentioned in This Article

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 System Installers): http://www.enfsolar.com/directory/installer/2548
Recurrent Energy (Solar System Installers): http://www.enfsolar.com/directory/installer/4752
Sharp (Solar Applications): http://www.enfsolar.com/directory/application/2548
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