San Francisco based solar developer Recurrent Energy has just been acquired by Sharp Corporation, Japan’s largest solar manufacturer. The transaction was for $310 million in cash. Arno Harris CEO of Recurrent will remain as CEO of the new Sharp subsidiary and report to Toshishige Hamano. “We’re thrilled to reach this agreement with Sharp, a company known for its technology,” said Arno Harris. The agreement will allow the two companies the opportunity to become a total solutions provider in the photovoltaic field, extending from developing and producing solar cells and marketing power generation plants.
Recurrent Energy is the developer of San Francisco Sunset Reservoir’s five megawatts (MW) solar plant. With its 25,000 solar photovoltaic panel capability it is among the largest municipal solar projects in the United States. Recurrent Energy has driven rapid growth of its development pipeline, with over 330 MW of 
contracted distributed-scale solar power projects including 170 MW with the Ontario Power Authority, 60 MW with the Sacramento Municipal Utility District (SMUD), and 50 MW with Southern California Edison, and announced projects and joint development agreements in Europe and the Middle East.
“We’ve enjoyed a tremendous partnership with the Recurrent Energy team and believe Sharp is the right partner to accelerate the growth of the business,” said Neil Auerbach, a Recurrent Energy director and Managing Partner at Hudson Clean Energy Partners. In addition to its core LCD TV business, Sharp is also focusing on its solar cell business. It has been more than 50 years since Sharp first started researching solar cells.