Sharp Corporation is looking to sell solar project developer Recurrent Energy for approximately $321 million as part of a reorganization, according to reports from the Kyodo News agency. Recurrent has a solar project portfolio of 500 megawatts and a pipeline of 2.5 gigawatts, according to the firm.

When Recurrent Energy was purchased by Osaka-based Sharp in 2010, it was happy news for the solar industry and, to some extent, the venture capitalists investing in the solar space. Sharp paid $305 million for a 100 percent stake in Recurrent Energy, a solar project developer. Investors in Recurrent included Mohr Davidow Ventures and Hudson Clean Energy Partners. It was MDV