Skip to content
Advertisements

Recurrent Energy To Sell Majority Stake In Half Of Its Ontario Solar Portfolio

June 15, 2012

With 200 megawatts (MW) of solar energy in their Ontario portfolio, San Francisco’s recurrent energy plans on selling controlling interest of half of its Canadian projects to Mitisubishi Corporation and Osaka Gas.

The sale won’t be completed until the solar plants are operational which is expected to be in 2013. All of the projects have a 20-year power purchase agreement with the Ontario Power Authority.

While exact terms of the deal were not announced, Mitsubishi and Osaka Gas will be equal investors in the deal while Recurrent Energy will retain a minority stake.

A subsidiary of Sharp Corporation, it will be interesting to see if Recurrent Energy decides to develop more solar plants in the incentive-laden Ontario energy market, continue to pursue mid-size opportunities in the United States, or seek out other markets that offer rich enticements for solar development. While their boilerplate states they seek to develop solar power where it is needed most, you can be assured that they will develop plants where it is most profitable.

Advertisements
No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: