Sharp paid $305m in cash to purchase a 100% stake in Recurrent Energy, and has been taking necessary procedures to make Recurrent Energy a wholly owned subsidiary, while obtaining approvals from relevant authorities.
Sharp executive vice president Toshishige Hamano said that the company’s Recurrent Energy subsidiary is the primary solar power generation platform and expands its photovoltaic business into the key area of project development.
Sharp said it will be able to function as a developer in the photovoltaic field through this acquisition and further expand its business in this area.
