Sharp is acquiring Recurrent Energy, a solar project developer and generating company with a 2 GW pipeline. As per terms of the agreement, Recurrent Energy will retain its name and operate as a subsidiary of Sharp. The purchase, valued at a reported $305 million, is expected to close by the end of 2010.
Independent power producer Recurrent Energy has announced the commercial operation of 4.8 megawatts (MW) of rooftop solar power systems in Spain. The systems are part of a partnership announced in September 2009 between ProLogis Renewable Energy and ProLogis European Properties (PEPR), one of the continent’s largest owners of modern distribution facilities.