(ADPnews) - Nov 5, 2010 - Japanese electronics company Sharp Corp (TYO:6753) said on Friday it has wrapped up the acquisition of US solar project developer Recurrent Energy for USD 305 million (EUR 215.5m), enhancing its foothold on the photovoltaic (PV) market.
The move is part of Sharp's plan to respond to rising demand on the PV scene in North America.
San Francisco-based Recurrent Energy develops solar projects in the US and has a 2-GW project pipeline of solar power generation facilities in the US and Canada.
Recurrent Energy will be operated as a unit of Sharp as of November 4. Thus, the Japanese electronics giant will extend its range in the PV segment from the supply of solar cells and modules to marketing solar projects.
(USD 1.0 = EUR 0.707)
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.