Canadian Solar entered into a definitive agreement with Sharp Corporation to acquire Recurrent Energy, 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. Total consideration for the acquisition of Recurrent is approximately $265 million in cash. The transaction is expected to close prior to the end of the first quarter of 2015, subject to customary closing conditions and regulatory approvals.
