Sharp departs Italy to end overseas solar panel production

Solar panel

Sharp Corporation has decided to withdraw from overseas solar panel making entirely, with the news that it has pulled out of its solar venture in Italy.

The move is part of a general reorganization of its solar power business. The Japanese firm has transferred its 30 per cent stake in 3Sun Srl to partner Enel Green Power, four years after establishing the venture.
Solar panel
STMicroelectronics has also agreed to sell its one third of the venture to Enel Green Power. That will leave the Italian company with full control of 3Sun, pending the approval of lenders and regulators if that’s required, according to a statement from Enel yesterday.

Sharp will continue to provide panel-making technology to 3Sun despite the decision, according to a Sharp spokesperson.

Sharp has already performed similar withdrawals from the US and UK earlier in 2014. The company will continue to sell products overseas and will also continue its engineering, procurement and construction of solar power plants. It will continue to make solar panels in Japan.

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