Tue, Mar. 31, 7:58 AM
- Canadian Solar (NASDAQ:CSIQ) has completed its acquisition of Recurrent Energy from Sharp (OTCPK:SHCAY) for $265M.
- With the closing of the transaction, David Brochu has been appointed Recurrent's new CEO to replace Arno Harris. Michael Metzner, Recurrent's CFO, is also stepping down from his role.
- CSIQ +1.2% premarket
- Previously: Canadian Solar to acquire Sharp's Recurrent for $265M (Feb. 03 2015)
Dec. 7, 2014, 5:03 AM
- Sharp (OTCPK:SHCAY) is set to sell its U.S.-based solar energy development unit Recurrent Energy to Canadian Solar (NASDAQ:CSIQ) for about ¥30B ($247M), reports the Nikkei business daily.
- Sharp previously paid $305M in cash to acquire the business in 2010, although a sale would now help the company raise capital as it struggles to increase its equity ratio to a healthy level.
- A basic agreement it expected by the end of the month, with a final sale in the spring.
- Previously: Sharp continues to withdraw from solar industry (Sep. 08 2014)
Dec. 23, 2013, 2:20 PM
- Public Service Enterprise Group (PEG +0.1%) buys two power plants (4.4MW DC) from a subsidiary of Canadian Solar (CSIQ +2.6%).
- Commercial operation of the installation is expected to commence "in early 2014."
- 14,952 CSIQ CS6X modules will be included in the farm which will power around 725 homes.
- This is PEG's seventh utility-scale solar project. (PR)
Apr. 16, 2012, 12:47 PMCanadian Solar (CSIQ +7.2%) has given back a chunk of the premarket gains it saw on a report CNOOC (CEO) is in talks to acquire the firm. Other Chinese solar names have given back most or all of their early gains: TSL -2.1%. YGE -2.9%. JASO +1.5%. HOKU +0.9%. Past remarks from the Chinese government have already led many to expect consolidation, and some fear a bit of M&A activity won't be enough to fix the solar industry's huge problems. | Comment!
Apr. 16, 2012, 8:12 AM
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