PV operations brace themselves as Sharp secures bail-out

Sharp offered to close PV manufacturing plants in the US and the EU, as well as rolling its four Japanese factories into a single site, say reports

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By Karl-Erik Stromsta London

 Friday, September 28 2012

Updated: Monday, November 26 2012

Ailing electronics giant Sharp has averted a financial crisis by securing ¥360bn ($4.64bn) in fresh loans from Japanese banks – albeit at the cost of a potentially seismic retrenchment of its global solar-energy division.

Desperate to persuade Japanese lenders to extend it fresh financing amid mounting losses at its core TV business, Sharp offered to close down its PV manufacturing plants in the US and the EU, as well as rolling its four Japanese factories into a single site, according to reports.

Sharp has not made any public statement on its intentions for its PV facilities, but has acknowledged the sweeping scope of its restructuring efforts.

Sharp opened a module plant in Wrexham, north Wales in 2004. The UK plant is said to have 600MW of capacity, Log in to read complete article.

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