http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/solar-by-technology-renewable-energy-news/sharp-buys-solar-project-developer-recurrent-energy-for-305m.html

Global electronics giant Sharp is to acquire solar project developer and Hudson Clean Energy Partners portfolio company Recurrent Energy for $305m in cash.

A second shareholder of the Recurrent, which has a 23GW product pipeline, was venture capital firm Mohr Davidow Ventures.
Sharp said the acquisition is expected to close before the end of the year, subject to closing conditions and regulatory approvals.
Under the deal, Recurrent will retain its name and will still be lead by CEO Arno Harris, who will now report to Toshishige Hamano, executive vice president responsible for overseas business at Sharp.
Harris said, ‘Sharp’s support will help us accelerate our growth and further cement Recurrent’s goal to build the leading global solar generating company.’
The company has more than 330MW of contracted distributed-scale solar power projects including 170MW with the Ontario Power Authority, 60MW with the Sacramento Municipal Utility Distrcity and 50MW with Southern California Edison.
Hamano added, ‘It is essential for Sharp to function as a developer in the photovoltaic field, in order to further expand its business in this area.
‘With Recurrent’s know-how as a developer, Sharp aims to become a total solutions company in the photovoltaic field, extending from developing and producing solar cells and modules to developing and marketing power generation plants.’