{"id":17449,"date":"2010-11-04T14:40:51","date_gmt":"2010-11-04T18:40:51","guid":{"rendered":"https:\/\/recurrentenergy.com\/sharp-corporation-completes-acquisition-of-recurrent-energy\/"},"modified":"2010-11-04T14:40:51","modified_gmt":"2010-11-04T18:40:51","slug":"sharp-corporation-completes-acquisition-of-recurrent-energy","status":"publish","type":"post","link":"https:\/\/recurrentenergy.com\/es\/sharp-corporation-completes-acquisition-of-recurrent-energy\/","title":{"rendered":"Sharp Corporation Completes Acquisition of Recurrent Energy"},"content":{"rendered":"

New Subsidiary is Sharp\u2019s Global Solar Power Generation Platform<\/strong><\/p>\n

SAN FRANCISCO \u2013 (November 4, 2010)<\/strong> \u2013 Recurrent Energy and Sharp Corporation (TSE: 6753) announced today that Sharp has completed the acquisition of Recurrent Energy, a leading solar project developer and generating company. Sharp paid $305 million in cash to purchase a 100 percent stake in Recurrent Energy, which is now a wholly owned subsidiary of Sharp.<\/p>\n

Arno Harris continues as CEO of Recurrent Energy and reports to Toshishige Hamano, Sharp\u2019s Executive Vice President responsible for overseas business. Recurrent Energy\u2019s executive team and employees will also continue with the company.<\/p>\n

\u201cOur Recurrent Energy subsidiary is the primary solar power generation platform for Sharp and expands our photovoltaic business into the key area of project development,\u201d said Toshishige Hamano. \u201cRecurrent Energy\u2019s expertise and relationships will help Sharp become a total solutions company in the photovoltaic field, extending from developing and producing solar cells and modules to developing and marketing solar power generation plants.\u201d<\/p>\n

Recurrent Energy currently has a development pipeline of about 2 GW, with over 330 MW of contracted distributed-scale solar power projects primarily in North America, in addition to projects and joint development agreements in Europe and the Middle East.<\/p>\n

\u201cSharp\u2019s scale and resources will help us to accelerate our growth and further cement Recurrent\u00a0Energy\u2019s position as the leading global solar generating company,\u201d said Arno Harris, CEO, Recurrent\u00a0<\/span>Energy. \u201cWe will continue to work with a variety of vendors to ensure we have the most appropriate\u00a0<\/span>equipment for our projects based on price and quality.\u201d<\/span><\/p>\n

About SHARP<\/strong>
\nSince its founding in 1912, Sharp has developed numerous world-first and Japan-first products, including the first Japan-made radios, TVs, and the world\u2019s first all-transistor\/diode desktop calculator. Sharp has contributed to society by commercializing these unique products.<\/p>\n

Today, in addition to its core LCD TV business, Sharp is also focusing on its solar cell business. It has been more than 50 years since Sharp first started researching solar cells. Over this long period of time, solar cells made by Sharp have been used not only in residential and industrial applications, but also on lighthouses and satellites, thus proving their long-term reliability. Sharp constructed one of the world\u2019s largest solar cell production facilities for thin-film solar cells at Sakai City in Osaka Prefecture, which started mass production in March 2010.<\/p>\n

Sharp Corporation employs 65,000 people worldwide (as of July 31, 2010), and recorded consolidated annual sales of 2,755,948 million yen for the fiscal year ended March 31, 2010. For more information, please visit Sharp\u2019s Web site at http:\/\/sharp-world.com\/index.html.<\/p>\n

About Recurrent Energy<\/strong>
\nRecurrent Energy is a leading solar project developer and generating company marketing clean power to utilities and large energy users. Recurrent Energy is meeting rising energy demand by building a global portfolio of clean power plants located where they are needed most. The company has a global pipeline of over 2 GW of solar projects in development across North America, Europe, and emerging markets. Recurrent Energy is a US subsidiary of Sharp Corporation. For more information on Recurrent Energy and distributed solar power, please visit www.recurrentenergy.com.<\/p>\n

# # #
\nMedia Contacts:
\nSean Gibson
\nBite Communications for Recurrent Energy
\n415-365-0395
\nsean.gibson@bitecommunications.com<\/p>\n

Sharp Corporation
\n+81-6-6625-3006 (Osaka, Japan)<\/p>\n","protected":false},"excerpt":{"rendered":"

New Subsidiary is Sharp\u2019s Global Solar Power Generation Platform SAN FRANCISCO \u2013 (November 4, 2010) \u2013 Recurrent Energy and Sharp Corporation (TSE: 6753) announced today that Sharp has completed the acquisition of Recurrent Energy, a leading solar project developer and generating company. 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