M&A Deal Summary

Canadian Solar Acquires Recurrent Energy

On March 31, 2015, Canadian Solar acquired renewable energy company Recurrent Energy from Sharp

Acquisition Highlights
  • This is Canadian Solar’s 1st transaction in the Renewable Energy sector.
  • This is Canadian Solar’s 1st transaction in the United States.
  • This is Canadian Solar’s 1st transaction in California.

M&A Deal Summary
Date 2015-03-31
Target Recurrent Energy
Sector Renewable Energy
Buyer(s) Canadian Solar
Sellers(s) Sharp
Deal Type Divestiture

Target

Recurrent Energy

San Francisco, California, United States
Recurrent Energy is a provider of solar projects for utilities, government, and commercial customers. We develop, build, and operate distributed solar power systems—typically 2-20MW each—connected to the existing distribution grid. We market renewable power to our customers in North America and Europe at competitive rates via a Power Purchase Agreement (PPA) or Feed-in Tariff (FiT).

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Buyer(S) 1

Buyer

Canadian Solar

Guelph, Ontario, Canada
Category Company
Founded 2001
Sector Semiconductors
Employees13,535
Revenue 7.6B USD (2023)
DESCRIPTION

Canadian Solar a vertically integrated provider of solar modules, specialized solar products and solar power plants. Canadian Solar is committed to improve the environment and dedicated to provide advanced solar energy products, solutions and services to enable sustainable development around the world. Canadian Solar was founded in 2001 and is based in Guelph, Ontario.

DEAL STATS #
Overall 1 of 2
Sector (Renewable Energy) 1 of 1
Type (Divestiture) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 2
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-24 Canadian Solar - West Antelope Solar Park

United States

West Antelope Solar Park of Canadian Solar Inc. comprises a solar energy facility. West Antelope Solar Park, located near Lancaster, Calif., in Los Angeles County, has commenced operations. A 20-year power purchase agreement is also in place.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-06 Canadian Solar - 14.1-megawatt DC CityLights Solar Power Plant

Chesterville, Ontario, Canada

Canadian Solar's 14.1-megawatt DC CityLights Solar Power Plant is a provider of solar energy solutions.

Sell -

Seller(S) 1

SELLER

Sharp

Sakai, Japan
Category Company
Founded 1912
Sector Electronics
Employees47,941
Revenue 2.32T JPY (2024)
DESCRIPTION

Sharp is a electronics manufacturer. The company primarily operates and markets its products in Japan, North America, Europe, and China. Sharp was founded in 1912 and is based in Sakai, Japan.

DEAL STATS #
Overall 1 of 1
Sector (Renewable Energy) 1 of 1
Type (Divestiture) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-21 Recurrent Energy

San Francisco, California, United States

Recurrent Energy is a provider of solar projects for utilities, government, and commercial customers. We develop, build, and operate distributed solar power systems—typically 2-20MW each—connected to the existing distribution grid. We market renewable power to our customers in North America and Europe at competitive rates via a Power Purchase Agreement (PPA) or Feed-in Tariff (FiT).

Buy $305M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-22 Skytec UMC

Larnaca, Cyprus

Skytec UMC Ltd. is a provider of an infrastructure from manufacturing to sales, after sales service and marketing of TV devices in Europe.

Buy -
Mergr

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