Sharp to Buy U.S. Solar Power Company

Sharp said the deal was made in anticipation of 'greatly' increasing demand for solar power in North America.

Japanese electronics giant Sharp said on Sept. 22 that it would buy U.S. solar power project developer Recurrent in an acquisition that would make the U.S. company a wholly-owned subsidiary.

Recurrent said the deal could be worth up to $305 million and was expected to close before the end of the year, with Sharp taking a 100% stake.

Sharp said the deal was made in anticipation of "greatly" increasing demand for solar power in North America as the number of related projects rises.

Recurrent, an independent power producer in the United States, develops and markets solar power plants by collaborating with power companies.

Copyright Agence France-Presse, 2010

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