Recurrent Energy CEO Arno Harris, will retain his position following the acquisition as will the rest of the company’s executive team and employees. Arno will report to Toshishige Hamano, Sharp’s Executive Vice President responsible for overseas business.
Hamano says 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 Energy’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.”
Harris adds, “We’re thrilled to reach this agreement with Sharp, a company known for its global leadership in solar technology. Sharp’s support will help us to accelerate our growth and further cement Recurrent Energy’s goal to build the leading global solar generating company.”
According to a statement, Recurrent Energy “has driven rapid growth of its development pipeline, with over 330 MW of contracted distributed-scale solar power projects including 170 MW with the Ontario Power Authority, 60 MW with the Sacramento Municipal Utility District (SMUD), and 50 MW with Southern California Edison, and announced projects and joint development agreements in Europe and the Middle East.”
Founded in 1912, Sharp has long been an electronics leader in Japan, manufacturing the country’s first radios and TVs, as well as the world’s first all-transistor/diode desktop calculator.
Today, in addition to its core LCD TV business, Sharp is also focusing on its solar cell business.
For more information, please visit http://sharp-world.com/index.html.
San Francisco-based Recurrent Energy markets clean power to utilities and large energy users. For more information on Recurrent Energy and distributed solar power, please visit www.recurrentenergy.com.