Sharp to Take Over Recurrent Energy in $305-Million Solar Energy Deal

Sharp Corp. is all set for acquiring Recurrent Energy for $305 million. Sharp is a Japanese giant in electronics manufacture while Recurrent Energy is a privately-held power developer as well as producer of distributed solar energy projects.

Recurrent Energy finances solar installations meant for owners of real estate property who sign up for longer-term power purchasing contract, while Recurrent Energy takes charge of maintaining the solar system. Typically, the scale of the solar photovoltaic projects which are focused on by Recurrent Energy ranges from small power plants that serve utilities to large-sized corporate facilities. Recurrent Energy will be retaining its name and will be functioning as a Sharp subsidiary.

Sharp aims at arriving on the solar photovoltaic field by making use of Recurrent Energy’s know-how in this field as a solar developer. Sharp’s role might range from producing and developing solar cells as well as modules and extend towards marketing and developing power generation plants as well.