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Sharp Soon to Sell Recurrent Energy Solar Business?

published: 2015-01-29 16:21

For restructure, Sharp plans to quit from the European solar market and sell Recurrent Energy last year. Sharp has been finding an adequate buyer for a while, and it seems to come to a result.

Bloomberg reports that a person familiar with Sharp’s plan to sell Recurrent Energy unveiled some improvement of this matter. Soon, a deal with a price higher than Sharp’s purchase price for the business would be announced yet the further details remain private. The price Sharp paid in 2010 to purchase Recurrent was USD$305 million.

“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 in a phone call with Bloomberg.

In 2014, Sharp stopped its solar panel manufacturing lines in the U.S. and UK, and pulled out of an Italian panel-manufacturing joint venture. Continuous market decline in the Europe forced the Japanese firm to restructure its business. In November 2013, Google and KKR & Co. already agreed to buy six Recurrent solar projects in California and Arizona in a USD$400 million transaction.

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