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Independent Solar Project Developers becoming Extinct as Upstream Companies keep gobbling them up

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Independent Solar Project Developers are fast becoming extinct as Solar Panel Producers are fighting to gobble  them up.The Solar Pipelines developed by these project developers have become very valuable for Module Producers who want to lock in to their captive demand.Despite a 140% y/y growth forecast  in Solar Demand this year,the Solar Panel Production has managed to keep up.Huge amounts of capacity have been built up with Demand still precariously dependent on European Government Subsidies.There is always the danger of a Spanish meltdown happening in a crucial market which could lead to a major decline.Sunpower,First Solar and MEMC have been at the forefront of such acquisitions spending hundreds of millions of dollar in acquiring these developers.Most of these Project Developers have reaped a huge windfall as they had not constructed even 10% of their pipelines.The value given to these acquired companies was for their PPA,development,environment permits,land acquisitions etc.

Sharp Joins the M&A Game

Sharp which was the largest Solar Producer by Revenues in 2009 has seen its position go down in Q210 as the Chinese and First Solar have overtaken it in shipments.The company has entered the Independent Power Producer (IPP) segment by tying up with Italian Utility Enel.The Company is also building a thin film solar plant in Italy in partnership with Enel.It is now further enhancing its position in the IPP segment by acquiring Recurrent Energy for $305 million.It acquires  330 MW of projects with another 1700 MW in a feasibility phase.Note Recurrent Energy had won a  huge amount of contracts in the under 10 MW bidding by Ontario.The company was owned by a Private Equity Group led by Goldman alums.Another company Nextlight which was acquired by First Solar recently was also promoted by ex-Goldman executives.

Sharp to buy U.S. solar developer Recurrent Energy – Reuters

Japan‘s Sharp Corp said on Wednesday it will buy U.S.-based developer of solar power systems Recurrent Energy for up to $305 million, stepping up efforts to expand into building solar plants.The purchase of Recurrent Energy will be the first acquisition by Sharp’s solar energy business, and the Japanese firm aims to gain know-how from Recurrent.Privately held Recurrent Energy, which is majority owned by Hudson Clean Energy Partners, focuses on small-scale projects of up to 20 megawatts. It has a pipeline of more than 2 gigawatts of projects planned in the United States, Canada and Europe.The acquisition is expected to close by the end of this year.


Sneha Shah

I am Sneha, the Editor-in-chief for the Blog. We would be glad to receive suggestions, inputs & comments on GWI from you guys to keep it going! You can contact me for consultancy/trade inquires by writing an email to

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