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Sharp to Sell US Solar Unit

Sharp to Sell US Solar UnitSharp to Sell US Solar Unit

Sharp Corp is looking to sell its US-based solar energy development unit Recurrent Energy, Bloomberg reported on Monday, as the Japanese firm winds down its involvement in the solar industry to focus on profitable businesses. Sharp paid $305 million in cash in 2010 to acquire Recurrent Energy. The sale would help Sharp to raise capital as it struggles to raise its equity ratio to a healthy level. This year, Sharp shut down its UK solar plant and also pulled out of a venture with Italian energy firm Enel SpA to make solar panels and generate solar power.

Financialtribune.com