Renewable Energy Stock Canadian
Solar (CSIQ) Soars on Acquisition News
Point Roberts WA, NEW YORK, NY – February 3, 2015 -
Investorideas.com, a global news source covering leading sectors including renewable
energy stocks reports on solar stock, Canadian Solar (CSIQ) .The
stock is trading at $26.51,up $5.19(24.34%),with a day high of $27.35.
Canadian Solar
reported that it has entered into a definitive agreement
with Sharp Corporation (TSE:6753) to acquire Recurrent Energy, LLC, a leading
North American solar energy developer, for approximately $265 million.
Once completed, the acquisition of Recurrent 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. Located in California and Texas, Recurrent's 1.0 GW late-stage pipeline is
one of the largest utility-scale project portfolios scheduled to be built prior
to the ITC expiration in 2016, and represents an estimated revenue opportunity
of at least $2.3 billion for Canadian Solar under a build and sell business
model.
About Canadian Solar Inc.
Founded in 2001 in
Canada, Canadian Solar is one of the world's largest and foremost solar power
companies. As a leading manufacturer of solar photovoltaic modules and provider
of solar energy solutions, Canadian Solar has a geographically diversified
pipeline of utility-scale solar power projects. In the past 14 years, Canadian
Solar has successfully deployed over 8 GW of premium quality modules in over 70
countries around the world. Furthermore, Canadian Solar is one of the most
bankable solar energy companies worldwide, having been publically listed on
NASDAQ since 2006. For additional information about the company, products, and
projects, please visit www.canadiansolar.com.
About Recurrent Energy
Recurrent Energy is
redefining what it means to be a mainstream clean energy company, with a fleet
of utility-scale solar plants that provide competitive clean electricity. The
company has more than 4 GW of solar projects in development in North America.
Additional details are available at: www.recurrentenergy.com
About Sharp Corporation
Sharp Corporation is
a worldwide developer of innovative products and core technologies that play a
key role in shaping the future of electronics. As a leader in liquid crystal
displays (LCDs) and digital technologies, Sharp offers one of the broadest and
most advanced lines of consumer electronics, information products and
electronic components, while also creating new network businesses. Sharp
Corporation employs 50,637 people in the world (as of September 30, 2014) and
recorded consolidated annual sales of 2,927,186 million yen for the fiscal year
ended March 31, 2014. For more
information, please visit Sharp's Web site at http://sharp-world.com.
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1 comment:
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