Canadian Solar to acquire Recurrent Energy for $265 million
February 4, 2015 | By Renée Francoeur
February 4, 2015 – Canadian Solar announced early this month that it has entered into a definitive agreement with Sharp Corporation to acquire Recurrent Energy, a North American solar energy developer, for approximately $265 million.
According to Canadian Solar, this acquisition will increase Canadian Solar’s total solar project pipeline by approximately 4.0 GW to 8.5 GW, and its late-stage project pipeline by approximately 1.0 GW to 2.4 GW.
The transaction is expected to close prior to the end of the first quarter of 2015, subject to customary closing conditions and regulatory approvals, said Canadian Solar.
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