Sharp denies Recurrent sale

Japanese electronics giant Sharp has denied long-standing speculation that it plans to sell off US solar developer Recurrent Energy.

Last autumn it was widely reported that the Osaka company would sell the wholly owned unit for ¥25bn ($261m) as part of its restructuring efforts.

“It was a rumour — 100% speculation,” Sharp spokeswoman Miyuki Nakayama tells Recharge. “[Recurrent] is doing quite well and we don’t have any plans to sell it.”

Sharp spent roughly $305m in September 2010 to acquire the San Francisco company, which claims a North American PV pipeline of 2GW.

This week, Recurrent started operating 70MW of projects at six sites in Ontario. The installations are part of 100MW of PV it is developing in the Canadian province with Mitsubishi and Osaka Gas.

Sharp posted a record group net loss of ¥545.3bn in fiscal 2012. However, its sales of crystalline and thin-film PV cells rose 16.1% year on year to ¥259.9bn, on 1.32GW of shipments, up 22.9% from 2011.