Sunday, May 20th, 2018

Sharp considering sale of U.S. solar energy unit: Bloomberg

A pedestrian walks past a logo of Sharp Corp at a train station in TokyoTOKYO (Reuters) – Sharp Corp is looking to sell its U.S.-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. Selling the company now 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. …

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