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
“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
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.